RESOLUTION NO. 2022-51
APPROVING THE DESIGNATION OF SLFRF FUNDS FOR THE CITY OF MONTICELLO
WHEREAS, the City Council of Monticello, Iowa is a NEU unit for the SLFRF Funds Program (American Rescue Money); and
WHEREAS, according to the final rules, the City of Monticello is a Tier 5 annual reporting NEU unit for the SLFRF Funds Program, with the first reporting deadline of April 30, 2022; and
WHEREAS, the City of Monticello received $289,105.91 on August 27, 2021, and an additional $968.61 on November 23, 2021. The City of Monticello anticipates receiving $289,105.91 in August of 2022, which would make the total $579,180.43; and
WHEREAS, the City of Monticello staff have viewed a training webinar about the reporting options for NEU units; and
WHEREAS, the US Federal Government is recommending NEU units that will be receiving a total less than $10 million dollars use the Standard Revenue Loss Allowance for reporting. The City of Monticello is not required to calculate revenue losses to use this allowance. The Tier 5 annual reporting using this Standard Revenue Loss Allowance is Option 1; and
WHEREAS, the funds categorized as Standard Revenue Loss Allowance can be spent on any lawful government services activity and especially on any of the Four Key Eligible Use Categories as designated in the ARPA legislation, of which, the fourth one is Water, Sewer and Broadband Infrastructure; and
WHEREAS, the Monticello City Council has until December 31, 2024 to obligate these funds to project(s) and until December 31, 2026 to spend these funds on the project(s); and
WHEREAS, as of this date the Monticello City Council does not have plans to use these funds, but this resolution does not stop the Monticello City Council from obligating the funds for a planned purpose prior to the December 31, 2024 deadline.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Monticello, Iowa, that city staff are directed to submit any required annual reporting by the deadlines, using the Standard Revenue Loss Allowance for NEU Units, Tier 5, Option 1.
BE IT FURTHER RESOLVED, by the Monticello City Council of the City of Monticello, Iowa, that the Mayor and City Clerk are hereby authorized and directed to execute this resolution of approval.
Passed and approved this 4th day of April, 2022.
AYES: Peach, Langerman, Yeoman, Hanken and Lux.
NAYS: None.
ABSENT: Brighton.
David Goedken, Mayor
ATTEST:
Sally Hinrichsen, City Clerk/Treasurer