Title
AN ORDINANCE CREATING THE “LOCAL FISCAL RECOVERY FUND (245).”
Brief Description: This Ordinance establishes a new fund to account for the American Rescue Plan (ARP) federal funding the City anticipates receiving.
Body
Legislative History
None.
Purpose & Explanation
The City of Hudson anticipates receiving approximately $4,360,000 in federal funding as part of the ARP relief program. A separate fund is required to be established under Ohio Revised Code Section 5705.09 to account for the receipt and expenditures of the ARP funds.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached: [Yes/No/NA])
Joint or Cooperative Purchase Program
Professional Services
X Other, not applicable.
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required
Does this legislation require use of an emergency clause?
Yes [if so, explain why]
X No
Recommendation
Suggested Action
Staff recommends approval of the new fund.
Submitted by,
Jane Howington, City Manager
Jeff Knoblauch, Asst City Manager/Finance Director