Explanation
BACKGROUND: The City received Emergency Rental Assistance (“ERA1”) Program funding through the Consolidated Appropriations Act, 2021, from the U.S. Department of Treasury for the period December 27, 2020 through September 30, 2022. In agreement with the acceptance of ERA1, the City is required to comply with the provisions of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”), which includes the return of unspent funds after the period of performance has ended. The ERA1 period of performance ended December 29, 2022 and the remaining unspent funds were reconciled with the U.S. Department of Treasury during the closeout period. The U.S. Department of Treasury authorized the ERA1 return in the amount of $1,101,894.69. This ordinance is necessary to provide for the required reimbursement of ERA1 funds to the U.S. Department of Treasury.
FISCAL IMPACT: This ordinance authorizes the expenditure and return of $1,101,894.69 from the Emergency Rental Assistance Fund (Fund 2208) to reimburse the Consolidated Appropriations Act administered by the U.S. Department of Treasury.
EMERGENCY DESIGNATION: Emergency action is requested to allow the financial transaction to be processed as soon as possible and to mitigate risk of potential penalties from untimely action.
Title
To authorize the Director of Finance and Management to reimburse the U.S. Department of Treasury for unspent Emergency Rental Assistance 1 Program allocation; to authorize the expenditure of $1,101,894.69 from the Emergency Rental Assistance Fund 2208; and to declare an emergency. ($1,101,894.69)
Body
WHEREAS, the City received funds from the U.S. Department of Treasury for the Emergency Rental Assistance 1 (“ERA1) Program; and
WHEREAS, expenditures charged to ERA1 monies must be consistent with the applicable allowable costs, activities, and regulatory provisions incorporated within the grant agreement; and
WHEREAS...
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