Title
Chief Administrative Office recommending the Board:
1) Receive a presentation on the County’s allocation of $37.6 million in American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds (SLFRF) and provide direction, if needed, on recommended changes to the Board’s spending plan;
2) Direct staff to return to the Board with a budget transfer to allow the County to report the use of $10 million of ARPA SLFRF as lost revenue to ensure compliance with reporting requirements and to reflect the updated spending plan; and
3) Authorize the Chief Administrative Officer to adjust allocation amounts between Board-approved projects in the spending plan to ensure all funds are obligated by the obligation deadline.
FUNDING: American Rescue Plan Act State and Local Fiscal Recovery Funds.
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DISCUSSION / BACKGROUND
Background
In March of 2021, the American Rescue Plan Act (ARPA) was signed into law, allocating $1.9 trillion to aid in recovery from the impacts of the COVID-19 pandemic. A portion of this allocation was designated for use under the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program, which provides a direct allocation of funding to counties and cities.
El Dorado County received a $37.46 million ARPA SLFRF allocation and a $870,850.48 ARPA Local Assistance and Tribal Consistency Fund (LATCF) allocation, while the City of South Lake Tahoe was allocated approximately $5.3 million, and the City of Placerville was allocated approximately $2.6 million. Additionally, the Governor allocated $100 million in ARPA funds to support special districts throughout the state. In November 2021, the Board approved an initial allocation of ARPA funding based upon the eligible expenditures as outlined in the U.S. Treasury’s Interim Final Rule that was released in May 2021 (Legistar Item 21-1680).
In April 2022, the U.S. Treasury released the 2022 Final Rule which established a standard allowance for revenue loss of up to $10 million, which allows ...
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