Meeting Type: BCC Regular Meeting
Meeting Date: 8/19/2025
Item Status: New
From: Beth Hodges, Budget Director
Submitted by: Lynzie Clark, Senior Budget Accountant
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ITEM TITLE
Title
Resolution #2025-162 - Allocation of ARPA and Revenue Replacement Interest
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STAFF RECOMMENDATION
Recommendation
Adopt Resolution #2025-162, allocating ARPA and Revenue Replacement interest.
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BACKGROUND INFORMATION
Background: It has been determined that there has been $864,786.00 in interest earned on both ARPA and Revenue Replacement Funds combined, generating $686,519.00 and $178,267.00, respectively. Staff respectfully request these funds be transferred to the Capital Projects Fund. With this, it is being requested to utilize $489,550.00 for the potential purchase of property and the remaining $375,236.00 to be used to help cover future project(s) and provide contingency funding should any current contracted project(s) experience cost changes or overages.
Previous Commission action/date: N/A
FINANCIAL IMPACT
Total cost of recommendation: $864,786.00
Budget line item(s) to be used: See Resolution #2025-162 for accounts
If this is not a budgeted expenditure, does the recommendation create a need for funding? N/A
LEGAL IMPACT
Is legal review necessary for this staff recommendation and related documents?
N/A
Reviewed/approved by: N/A
Additional comments: N/A
ADVERTISING REQUIREMENTS
Is advertising required for this recommendation? N/A
If the proof of publication affidavit is not attached, list the reason: N/A
FOLLOW UP IMPLEMENTATION
For time-sensitive follow up, select deadline date for follow up: N/A
Individual(s) responsible for follow up: Administration, Budget, and Finance Staff
Action required (list contact persons/addresses if documents are to be mailed or emailed): Administration staff to upload resolution, Budget staff to create budget entry from resolution, and Finance staff to make the necessary transfer of funds.
Additional instructions/notes: N/A