Agenda Item Name:
Title
CARES Act Funding Plan
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Presenter:
Michele L. Lieberman, County Manager
Description:
A CARES Act Funding Plan is needed to begin supporting the local community with financial relief from the impacts of the Coronavirus.
Recommended Action:
Recommended Action
Approve Resolution for Unanticipated Revenues and Budget Amendment to receive and account for these funds.
Approve Engagement of Carr, Riggs and Ingram, LLC as the consultants to assist with processing CARES Act funding.
Adopt Staff's recommended plan.
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Prior Board Motions:
6/23/2020 - BoCC Approved Cares Act Funding Agreement
Fiscal Consideration:
Fiscal Consideration
Approval of resolution and budget amendment will allow for the county to account and track the $11,736,482 in initial funds received. Budget will need to be amended if amounts exceed initial funds. Accounts: 154.00.0060.525.12.00, 154.00.0060.525.52.00, 154.00.0060.525.64.00 and 154.00.0060.525.81.00
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Background:
To receive funding through the State of Florida (FDEM), Division of Emergency Management ("Division" or "Recipient"), from the Cares Act, a Cares Act Funding Agreement is required to be approved by Alachua County ("County" or "Sub-recipient"). Upon receipt and execution, the FDEM will make an initial disbursement to the county of 25% ($11,736,482) of the total amount allocated to the county ($46,945,928) according to the United States Department of the Treasury. Any additional amounts will be disbursed on a reimbursement basis. The BoCC approved the agreement on 6/23/20.
The CARES Act, section 601 (d) of the Social Security Act, created the Coronavirus Relief Fund (CRF) and provided Florida with $8,328,221,072; 55% of which was allocated to the State of Florida and 45% was allocated to the counties. The United States Department of the Treasury disbursed $2,472,413,692 of these funds directly to counties with a population in excess of 500,000. The remaining balance of $1,275,285...
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