HomeMy WebLinkAbout285-22 RESOLUTION113 West Mountain Street
Fayetteville, AR 72701
(479) 575-8323
Resolution: 285-22
File Number: 2022-1056
AMERICAN RESCUE PLAN ACT REVENUE LOSS:
A RESOLUTION TO APPROVE REIMBURSEMENT TO THE CITY'S GENERAL FUND OF
THE REMAINING CALCULATED AMERICAN RESCUE PLAN GRANT TO OFFSET
REVENUE LOSS INCURRED IN 2021 IN THE AMOUNT OF $5,095,114.00, AND TO
APPROVE A BUDGET ADJUSTMENT
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
reimbursement to the General Fund in the amount of $5,095,114.00 of the remaining calculated
American Rescue Plan Grant to offset revenue loss incurred in 2021.
Section 2: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget
adjustment, a copy of which is attached to this Resolution.
PASSED and APPROVED on 12/6/2022
Appro ed: Attest: ``���trirrr►rq
i
_EF K i
��% AYE�EVIttf. %
Lioneld Jor ayor Kara Paxton, City Clerk Treasurer' y; y, ,
Page 1 Printed on 1217122
City of Fayetteville, Arkansas 113 West Mountain Street
Fayetteville, AR 72701
(479)575-8323
Text File
File Number: 2022-1056
Agenda Date: 12/6/2022 Version: 1 Status: Passed
In Control: City Council Meetinq File Type: Resolution
Agenda Number: A.16
AMERICAN RESCUE PLAN ACT REVENUE LOSS:
A RESOLUTION TO APPROVE REIMBURSEMENT TO THE CITY'S GENERAL FUND OF THE
REMAINING CALCULATED AMERICAN RESCUE PLAN GRANT TO OFFSET REVENUE LOSS
INCURRED IN 2021 IN THE AMOUNT OF $5,095,114.00, AND TO APPROVE A BUDGET
ADJUSTMENT
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a reimbursement to the
General Fund in the amount of $5,095,114.00 of the remaining calculated American Rescue Plan Grant to
offset revenue loss incurred in 2021.
Section 2: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a
copy of which is attached to this Resolution.
City of Fayetteville, Arkansas Page 1 Printed on 121712022
Paul A Becker
Submitted By
City of Fayetteville Staff Review Form
2022-1056
Legistar File ID
12/6/2022
City Council Meeting Date - Agenda Item Only
N/A for Non -Agenda Item
11/15/2022 CHIEF FINANCIAL OFFICER (110)
Submitted Date Division / Department
Action Recommendation:
A RESOLUTION TO APPROVE THE REIMBURSMENT OF THE REMAINING CALCULATED ARPA REVENUE LOSS FUNDS
OF $5,095,114 TO THE CITY'S GENERAL FUND AND APPROVAL OF A BUDGET ADJUSTMENT.
Budget Impact:
1010.090.6600-4309.01
General
Account Number
Fund
20023.2021
American Rescue Plan Grant Funding
Project Number
Project Title
Budgeted Item? Yes
Current Budget
$ 2,884,140.00
Funds Obligated
$ 219,840.00
Current Balance
2,664,300.00
Does item have a cost? No
Item Cost
$ -
Budget Adjustment Attached? Yes
Budget Adjustment
$ 5,095,114.00
Remaining Budget
7,759,414.00
V20210527
Purchase Order Number: Previous Ordinance or Resolution #
Change Order Number: Approval Date:
Original Contract Number:
Comments:
CITY •
FAYETTEVILLF
A\�ARKANSAS
MEETING OF DECEMBER 6, 2022
TO: Mayor and City Council
CITY COUNCIL. MEMO
FROM: Paul Becker, Chief Financial Officer
DATE: November 15, 2022
SUBJECT: Request to authorize the reimbursement of the remaining calculated ARPA
Revenue Loss to the City. This remaining loss amounts to $5,095,114 and
will be transferred to the City General Fund for police payroll expense
reimbursements that were incurred in 2021.
RECOMMENDATION:
The administration requests the City Council's authorize the remaining reimbursement of
calculated revenue loss for the period beginning March 3, 2021 of $6,914,393 due to the public
health emergency created by the COVID-19 pandemic from the awarded American Recovery
Plan Act. The remainder of this loss available is $5,095,114 and will be used to offset police
payroll expenses in that amount incurred in 2021.
BACKGROUND / DISCUSSION:
The overview of the US. Treasury Final Rule of Coronavirus State & Local Fiscal Recovery Funds
provided that a "standard allowance" of $10 million in awarded funds may be claimed as public
revenue loss for a municipality. However, the City Council wishes to reimburse the City for actual
calculated losses of $6,914,393 during 2020.
BUDGET/STAFF IMPACT:
This request will add $5,095,114 in funds to the City's General Fund and the funds will be
committed for capital expenditures identified in the future and authorized by the City Council.
Attachments:
Staff Review form, Staff Memo Revenue loss calculation
Mailing Address:
113 W. Mountain Street www.fayetteville-ar.gov
Fayetteville, AR 72701
ARPA Revenue Replacement Calculator
Background Information
Notes:
1) Fiscal Year End IDecember
12/31/2019
FY used for base year calculation
2) Fiscal or Calendar Year IFiscal
ARPA allows measuring calendar or fiscal year
3) Calculation Date 1
Select date for end of period to calculate loss
12/31/2020
12
Months between Base Year and Calculation Date
Estimate Revenue
3) Base Year Revenue $
157,660,862
4) Growth Rate
5,2%
oft ",; $
165,859,227
Estimated Revenue Without Pandemic
5) Actual Revenue $
"NAROWtas t4 alGttlat w % y ��
158,944,834
Reduction in Revenue
Period Ended 1213112020
Revenue Reduction
Revenue Reduction %
City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar)
Budget Year Division Adjustment Number
/Org2 ACCOUNTING &AUDIT (131)
2022
Requestor: Marsha Hertweck
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION:
Reimbursement of remaining ARPA Calculated Revenue Loss of $5,095,114 to the General Fund.
RESOLUTION/ORDINANCE
COUNCIL DATE: 12/6/2022
LEGISTAR FILE ID#: 2022-1056
Hovy 3lack�
1112112022 12:00 PM
Budget Director Date
TYPE: D - (City Council)
JOURNAL #:
GLDATE: 12/6/2022
CHKD/POSTED:
TOTAL - -
Increase / (Decrease)
Account Number Expense Revenue
Proiect.Sub#
Project Sub.Detl AT
v.20221019
Account Name
1010.090.6600-4309.01 - 5,095,114
20023 2021 RE
Federal Grants - Operational
1010.001.0001-4999.99 (5,095,114)
RE
Use Fund Balance - Current
H:\Budget Adjustments\2022_Budget\CITY COUNCIL\12-06-22\2022-1056 BA ARPA Reimb to Gen Fund 1 of 1