Impact
WARD / COUNCILMEMBER: City-wide
$ IMPACT: Not to exceed $881,866
Title
Approval of the third expenditure listing and amendment to the FY21 budget for CARES Act Funding for an amount not to exceed $881,866 for necessary expenditures incurred and/ or planned due to the COVID-19 pandemic.
Body
ISSUE AND BACKGROUND:
Cobb County received funding from the federal Coronavirus Relief Fund as an eligible unit of local government. Under U.S. Department of Treasury guidance, the County approved the transfer of funds to other local governments within Cobb County provided that the transfer qualifies as a necessary expenditure incurred due to COVID-19 and meets the other criteria of section 601(d) of the Social Security Act.
The total amount of funds allocated to Smyrna is $2,968,559.10. Half of this sum, $1,484,279.50 will be paid as an advance and the other half will be paid as a reimbursement for eligible expenses. The agreement provides that the funds may only be used to cover those costs that:
(a) are necessary expenditures incurred due to COVID-19;
(b) were not accounted for in the budget most recently approved as of March 27, 2020 for the City;
(c) were incurred during the period that begins on March 1, 2020 and ends on December 30, 2020.
City staff were asked by the City Administrator to prepare a listing of items that would meet the above specifications. Several staff members reviewed these requests. This item is the third of several expenditure requests. This request is for the purchase of additional technology and funding for a grant program for Smyrna small businesses.
RECOMMENDATION / REQUESTED ACTION:
Approval of the second expenditure listing and amendment to the FY21 budget for CARES Act Funding for an amount not to exceed $881,866 for necessary expenditures incurred and/ or planned due to the COVID-19 pandemic.