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