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Kittitas County <br />Board of County Commissioners <br /> <br />Agenda Staff Report <br /> <br /> <br /> <br />Agenda Date: May 18, 2021 <br /> <br />Action Requested: Request the Board approve A Resolution Establishing Fund 124 <br />American Rescue Plan [Coronavirus State & Local Fiscal Recovery <br />Fund] <br /> <br />Background: On March 11, 2021, President Biden signed the American Rescue Plan <br />Act of 2021 (H.R. 1319) into law. The $1.9 trillion package, based on <br />President Biden’s American Rescue Plan, is intended to combat the <br />COVID-19 pandemic, including the public health and economic impacts. <br />The preliminary allocation designated to Kittitas County is $9,310,812, <br />with estimated half of the funds to be sent in May 2021 and the balance <br />sent one year later. <br /> <br />To track the funds appropriately we need to create a new fund, this will <br />be a special revenue fund. <br /> <br />The United States Department of Treasury has issued the Interim Final <br />Rule guidelines on the use of the funds, which include the following <br />categories: <br /> <br />There is still a tentative question on the investment of the funds this <br />resolution is indicating we will follow the guidelines. The resolution also <br />indicates that administrative costs) with no indirect cost allocation) can <br />be charged to the program. <br /> <br />Recommendation: <br /> Request approval of A Resolution Establishing Fund 124 – American <br />Rescue Plan [Coronavirus State & Local Fiscal Recovery Fund] <br /> <br />Handling: Copy to Judy Pless <br /> Copy to Treasurer <br /> <br />Attachments: Resolution Establishing the Fund <br /> Fact Sheet from the United States Treasury <br /> Listing of allocation of funds per state/county <br /> <br />Lead Staff Judy Pless, Budget & Finance Manager <br /> Kittitas County Auditor’s Office