FY 24 Budget Q&A #044: Please provide a comprehensive list of ARPA projects, remaining balances, and project statuses.
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Question: Please provide a comprehensive list of ARPA projects, remaining balances, and project statuses. (Mayor Wilson, Councilman Chapman)
Response:
The purpose of this memorandum is to provide an update on American Rescue Plan Act (ARPA) Coronavirus State and Local Fiscal Recovery Fund project statuses in the context of the FY 2024 budget development process.
Budget question #43 (Attachment 1) summarized the use of $59.6 million in ARPA funding including $50.0 million in projects and $9.6 million planned to be used to make up for lost revenue in case of a recession or to reduce Capital Improvement Program (CIP) borrowing and debt service costs in the operating budget.
The table presented in Attachment 2 provides a work and funding status update for ARPA-related projects listed in order of their expected completion date. Most projects are funded to continue through the end of FY 2024 or later. Decisions about whether to continue them using reallocated ARPA or local funds can be made in the FY 2025 or FY 2026 budgets. Some projects will expire at the end of FY 2023 and have been included in the FY 2024 proposed budget with one-time or ongoing funding. Others have been completed. Projects funded in the CIP are one-time in nature and may be implemented over multiple fiscal years.Funding for projects with no designated completion date will expire at the end of FY 2023.
Any projects that are expected to be completed in FY 2023 or with no designated completion date that are incomplete and still have remaining project balances at the end of the fiscal year may be considered for carryover into FY 2024. As projects are completed or deemed no longer necessary, any remaining budget balances on those projects can be reallocated for other one-time purposes including cash capital funding for the CIP.
