Title
ARPA Fund Interest Earnings
Action
ACTION:
Approve the American Rescue Plan Act Fund Interest Earnings Project Ordinance
Staff Contact: David Boyd, Chief Financial Officer
Presentation: No
BACKGROUND/JUSTIFICATION:
The County earned interest on ARPA funds totaling $7,680,490.59 through June 30, 2024 and will use the proceeds to fund projects to respond to and support communities and populations hardest-hit by the COVID-19 crisis.
PROCUREMENT BACKGROUND:
N/A
POLICY IMPACT:
N/A
FISCAL IMPACT:
FY25 appropriation of $7,680,490.59 in ARPA Fund interest earnings.