Agenda Date: 07/07/2020
Subject:
Title
Ordinance 25-2020: An ordinance on second reading amending Ordinance No. 25, series of 2019, known as the Annual Appropriation Bill
Body
Prepared by:
Stacey Covington, Budget Analyst
PURPOSE:
Does city council support amending the 2020 annual appropriation for the receipt and disbursement of CARES Act funding related to the coronavirus (COVID-19) pandemic?
PRESENTATIONS:
Staff Presenter(s): Tiffany Hooten, Finance Director
Additional Presenter(s): N/A
SUMMARY:
The CARES Act established the Coronavirus Relief Fund (the "Fund") and appropriated $150 billion to the Fund. Under the CARES Act, the Fund is to be used to make payments for specified uses to States and certain local governments; the District of Columbia and U.S. Territories; and Tribal governments.
The populations of Arapahoe and Jefferson Counties are more than 500,000, allowing both counties to qualify and receive a distribution of $114.75m from the Treasury Department. It was determined these funds could be shared with cities within the counties. Both counties have established separate processes for declaring and reporting eligible expenditures under the CARES Act for cities in both jurisdictions. Portions of Littleton are located in Arapahoe and Jefferson counties and therefore Littleton is eligible for funding from both counties. The city is expected to receive $4,409,413 of CARES Act funds.
PRIOR ACTIONS OR DISCUSSIONS:
Council approved the intergovernmental agreements regarding the CARES Act local government distributions with Arapahoe and Jefferson Counties at the May 19, 2020 council meeting. CARES Act funds and potential eligible costs related to COVID-19 were further discussed during the study session held on May 26, 2020.
Passed on first reading on June 16, 2020.
ANALYSIS:
Staff Analysis
Understanding the needs of municipalities, and although it...
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