Finance Item/Grant Request Template
Date Submitted: 5-17-21
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Rachel Bardin |
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Email: Rachel.Bardin@denvergov.org |
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red “title” and “body” below. Do not at any time delete the red “title” or “body” markers from this template.
title
A bill for an ordinance establishing a new fund in the General Government Special Revenue Fund Series for the “American Rescue Plan Act” program and approving and providing for the execution of a proposed Grant Agreement between the City and County of Denver and the United States of America Department of Treasury for the “Coronavirus Local Fiscal Recovery” program and the funding therefor.
Establishes a new Special Revenue Fund, the “American Rescue Plan Act,” in the General Government Fund series to receive and expend grant dollars allocated to the City and County of Denver through ARPA and approves the “Coronavirus Local Fiscal Recovery” grant agreement from the US Treasury Department for $308,048,870 for the ARPA allocation. The Committee approved filing this item at its meeting on 5-25-21.
body
Affected Council District(s) or citywide? Citywide
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
This bill request establishes the “American Rescue Plan Act” Fund, Fund No. 11011, in the General Government Fund Series. The purpose of this Fund is to receive and administer federal grant dollars allocated to the City and County of Denver through the American Rescue Plan Act of 2021 (ARPA). The ARPA was signed by the President on Thursday, March 11th, 2021.
The allowable uses of the ARPA’s aid to local governments include providing government services to the extent of lost revenue, supporting immediate economic stabilization for households and businesses, supporting urgent COVID-19 response efforts, making necessary investments in water, sewer, and broadband, and addressing systemic public health and economic challenges that have contributed to the inequal impact of the pandemic.
The City and County of Denver received a grant agreement from the Treasury Department on May 10th, 2021 concerning the use of the ARPA dollars, thereby rendering these funds “grants in aid,” per Section 20-52 of the Denver Revised Municipal Code (DRMC).
Per Section 20-52 of the DRMC, such funds do not require appropriation; however, because the ARPA custodial funds are dedicated in part to restoration of what would otherwise have been appropriated services, the SRF established through this bill request authorizes City Council to approve the spending distributions for ARPA-authorized categories in the ARPA Fund. Spending will be authorized through future ordinances.
The full amount of the award is $308,048,870. The United States Treasury Department will disburse the first 50 percent, or $154,024,435, upon submission of the signed grant agreement and has committed to distributing the remaining 50 percent one year from that date.
The ARPA Fund will be sponsor-funded and non-lapsing. Grant IDs will be established based on the approvals made, and agencies
and departments will be the expending authorities for their approved requests.
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other):
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: