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TO:
Honorable Mayor and Members of the Common Council
FROM:
Julie Calmes, Finance Director
DATE:
September 24, 2024
SUBJECT:
Res 24-528 Approve Budget Amendment and Appropriate ARPA Funds for Specific 2024 Infrastructure Projects
BACKGROUND
Finance has worked with all City departments to determine if any previously approved ARPA projects will be coming in under budget, or won’t be able to have the funds obligated by the December 31, 2024 deadline. At this time, we are requesting a budget amendment to reduce previously approved ARPA dollars by $1,480,718.24.
We also worked with each department on additional department needs that would be able to be obligated by December 31, 2024. We prioritized items that are currently in the CIP or being proposed in the 2025 Operating Budget. At this time, we are requesting $1,583,522 of ARPA funds be appropriated for the projects listed on the attached document.
One unique item to note is the Pickart Park Development. At this time, Parks did not feel they would be able to obligate the $350,000 that was allocated to the project from ARPA by December 31, 2024. City Manager Rohloff is recommending we change Steven’s Park, which is also in the CIP for 2025, to being funded by ARPA instead of general obligation (G.O.) debt. This would free up G.O. debt dollars, allowing Pickart Park to then be funded by G.O. debt in 2025.
FISCAL IMPACT
The budget amendment and the ARPA appropriation requests cause the City to be $209,500.76 over the original infrastructure ARPA amount of $15,385,863. Finance is appropriating additional projects in case other projects come in under budget. The City needs all ARPA projects to be appropriated/obligated by December 31, 2024 and all invoices must be paid by December 31, 2026. This approach will provide a cushion to prevent any funds from needing to be returned to the federal government for not following the above requirements. Any amount in excess of our ARPA allocation will be covered by interest income that has been earned on the ARPA funds.
Please contact me if you have any additional questions.
RECOMMENDATION
Staff recommends that Council approve the attached Resolution.
Attachments
Res 24-528
24-528 Attachment_Budget Appropriations for Additional ARPA Projects (Updated)
Budget Adjustment for Previously Approved ARPA
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