Agenda Date: 10/06/2020
Subject:
Title
Motion to approve expenditure of CARES Act funds
Body
|
Prepared by: |
Ashley Bolton, Administrative Services Department Director |
PURPOSE:
Does council support the approval of the use of CARES Act funds for an amended Phase IV that includes the original proposal, plus additional business grants and library/museum security camera system improvements?
PRESENTATIONS:
Staff Presenter(s): Ashley Bolton, Administrative Services Director
Additional Presenter(s): Tiffany Hooten, Finance Director
SUMMARY:
The city has received CARES Act funds from Arapahoe and Jefferson Counties to use in response to COVID-19 efforts.
PRIOR ACTIONS OR DISCUSSIONS:
CARES Act funds have been discussed at several previous study sessions and council meetings; most recently at the September 24, 2020 study session.
ANALYSIS:
Staff Analysis
At the September 24, 2020 study session, council supported staff’s recommendation for a proposed Phase IV CARES Act expenditures for a total of $205,000. This original Phase IV proposal included:
• Strategic website assessment and design plan - $30,000
• Council chambers voting system - $15,000
• Gartner Executive Partner subscription - $30,000
• Weekends on Main equipment - $30,000
• Cloud Storage and Scanning - $100,000
During this discussion, council also supported allocating an additional $187,813 of CARES Act to fund those businesses that applied for Phase III, qualified for those funds but were not funded in that round due to the original limits of Phase III funding.
Council also reaffirmed for staff to proceed advertising for an additional round of non-profit assistance. The intent is to use the balance of $39,000 in unspent funding that was allocated for non-profits from the previous round of grants. Since this would not increase the original allocation for non-profits, this is not included in the motion to approve.
Additionally, Council requested that staff look at using CARES Act funding to address needed security camera system improvements to provide support with contact tracing at the library and museum, rather than using future Conservation Trust Funds. Staff is in the process of verifying if the costs are eligible for the CARES Act and if the equipment can be purchased and installed by the end of the year per the requirements of the Act. Staff is requesting to allocate the $225,000 for this use, but if the project does not meet the requirements for whatever reason, then council will have another opportunity to reallocate the funds for a different purpose.
Council Goal, Objective, and/or Guiding Principle
Goal 2: Financial Sustainability
Fiscal Impacts
The city has been allocated $4,409,413 from Arapahoe and Jefferson Counties.
There have been three phases for use of CARES Act funds presented by staff and supported by council over the past several months for a total of $3,690,000. Phase IV amended includes the original $205,000 as proposed, plus $187,813 for business grants and $225,000 for a total of $617,813. Below is a summary of the funds and expenditures:
• Total CARES Act $4,409,413
• Phase I - <$1,182,000>
• Phase II - <$1,520,000>
• Phase III - <$ 988.000>
Subtotal $ 719,413
• Phase IV (amended) - <$ 617,813>
• CARES Act balance $ 101,600
With council’s approval of Phase IV as amended, would leave a balance of $101,600 available to be used by December 30, 2020.
Alternatives
Due to the complexity of this item there are any number of alternatives. Staff will attempt to address questions as they are received.
STAFF RECOMMENDATION:
Staff recommends approval of the above noted additional expenditures from CARES Act funds.
PROPOSED MOTION:
Proposed Motion
I move to approve the allocation of CARES Act Phase IV expenditures as amended for a total allocation of $719,413.