Finance Item/Grant Request Template
Date Submitted: 6-14-21
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 amending Ordinance No. 591, Series of 2021, to allocate an initial amount of spending in the American Rescue Plan Act Grant Fund.
Amends Ordinance No. 591, Series of 2021, to authorize $46,208,643 of spending in 2021 in the American Rescue Plan Act Grant Fund to restore services that were reduced due to revenue loss resulting from COVID-19. The Committee approved filing this item at its meeting on 6-22-21.
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.
Ordinance No. 591, Series of 2021, established the American Rescue Plan Act Grant Fund, Fund No. 11011, and accepted the Coronavirus Local Fiscal Recovery Fund award agreement with the US Department of Treasury. While the ordinance accepted the full $308,048,870 identified in the award agreement, it included provisions requiring that City Council approve any spending in the fund through amendments to said Ordinance.
This bill request amends Ordinance No. 591, Series of 2021, to authorize an initial amount of spending in the Fund, specific to the “Revenue Loss” category, identified as an allowable expense in the ARPA guidance. The Budget and Management Office will present spending details to City Council at the Finance and Governance Committee meeting on Tuesday, June 22nd. At a high level, this initial allocation of $46,208,643 will focus on the cost of restoring furloughs for all City employees in 2021, the cost of restoring some services that were reduced in 2021 to balance the budget as a result of revenue loss from COVID, and the cost of catching up on certain operational backlogs that arose as resources were reduced or diverted due to the pandemic. A subsequent bill request after the 2022 budget is released will authorize spending in the ARPA Grant Fund for the 2022 portion of costs associated with these services. The BMO will determine these amounts through the budget process, after it identifies which on-going expenses supported by ARPA in 2021 will be supported by the General Fund in 2022.
Additionally, BMO will submit future bill requests to authorize spending specific to public health and economic recovery. The Department of Finance recently concluded a campaign to receive public input and is analyzing the results to inform those 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: