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Special Revenue Ordinance - ARPA Investment Revenues
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INFORMATION CONTACT:
Jason May, Budget & Grants Management, Director, 704-273-3760
ACTION REQUESTED:
Adopt SRO #94H to provide funding budgeted in FY 2027.
PRIOR BOARD ACTIONS:
June 21, 2021, Regular Meeting, Agenda Item #42
BACKGROUND:
Union County received ARPA funding in June of calendar year 2021. This SRO was created to appropriate investment earnings received during the implementation of the original funding. The investment earnings have been utilized for payments to outside agencies, Software Maintenance Agreements, Capital Funding in Water & Sewer, Capital Funding in the General Fund, as well as a small personnel usage and ongoing general fund projects.
FINANCIAL IMPACT:
The FY 2027 Budget includes the usage of $600,000 of ARPA investment revenue as a funding source for one-time expenses in the adopted budget.