American Rescue Plan Funds Update
Updated: Jul 20, 2021
As a member of the Board’s American Rescue Fund Committee, along with Commissioner Holt, I can report that we continue to monitor information on the regulations being developed in regard to the use of the funds. We are continuing to digest the 150-page interim rule. Presently the U.S. Treasury Department is accepting comments on the rules through July, before adopting the rule as permanent.
The County’s CFO has registered with the Treasury Department’s portal as the County’s Authorized Representative, a step I am advised that is a necessary part of ultimately obtaining the funds. We are also advised that the state Division of Local Government will soon be issuing a fiscal notice that will outline the state’s requirements for administering the funds. At this point, the county has not received the funds that have been allocated under the law.
When the funds are ultimately released, the County will be prepared with the appropriate financial controls.