CITY COUNCIL AGENDA ITEM
Memo Date: December 4, 2024.
Agenda Date: December 10, 2024.
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, CGFO, CGFM, MCB, Finance Director
Requested Action:
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Approve a Budget Resolution Amending the FY25 Budget, BAF#25-014-A, for FY24 Project Roll and to Shore Up the remaining balances of SLFRF (ARPA) funds, in the amount of $121,204. Authorize the City Manager to make any further Budget Transfers regarding SLFRF for the remainder of the year. The SLFRF funds must be obligated by December 31, 2024.
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BACKGROUND:
In March of 2021, the Federal Government awarded the City of Cocoa 3.8 million dollars of Grant Funding called the American Rescue Plan Act (ARPA) as a response to Covid. In 2022, the program had the name changed to State and Local Fiscal Recovery Funds (SLFRF).
Throughout the course of the last 3 years, city staff has requested from City Council the use of these funds. Some of the projects did not use all of the allocated budget and so have remaining uncommitted balances that were allocated to a project. Staff is consolidating all of the uncommitted ARPA funds into one project and general ledger account number to ease of tracking at this time. Staff is requesting approval to locate an eligible use of the uncommitted money. This will most likely be capital items that have been committed using general fund dollars. This agenda item will be the final request of the use of (SLFRF), as all funds need to be obligated by December 31, 2024. Staff will present an agenda item to City Council in January with the identified capital projects utilizing the uncommitted ARPA (SLFRF) grant money.
The attached BAF#25-014-A essentially shores up the remaining balances of all previously obligated funds and provides budget for two previously approved projects.
Remaining Committed Projects:
AR24AC: HVAC $38,980
AR24PV: Police Vehicle Striping $9,234
Total: $48,214
Remaining Uncommitted Bal...
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