02.16.22 Budget Workshop - Laserfiche WebLink

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City Council Meeting Minutes February 16, 2022 providing direction. Ms. Miranda provided the History of the American Rescue Plan Fund: • US Treasury launched Coronavirus State and Local Fiscal Recovery Fund program totaling $350B • San Marcos total allocation $18,101,483 • Received $9,050,741 on June 1, 2021 • Anticipate remainder to be received June 2022 • Funds incurred during the period 3/3/2021-12/31/2024 and expended by 12/31/2026 Initial Distribution included Public Health Response, Negative Economic Impacts, Services to Disproportionately Impacted Communities and Infrastructure 1st round council deferred funding included Briarwood & River Ridge stormwater project, Stormwater improvements at City facilities, Stormwater improvements at Hull/Grove St., Small Business Counseling Program and Marketing grant for digital campaigns. Ms. Miranda provided information on the State and Local Fiscal Recovery Funds (SLFRF). These were released in January 2022, effective April 2022 - Treasury will not take action if implemented prior to that date and these funds provide more flexibility and is simplified. The Key changes from May 2021 Interim Rule include the following: — Replacing Lost Public Sector Revenue: Standard allowance for revenue loss —Public Health and Economic Impacts: • Clarifies can use for capital expenditures that support • Expanded households/communities disproportionately impacted by COVID-19 • Broader uses in this area • Broader set of uses to restore and support government employment including hiring above pre -pandemic baseline and retention incentives — Premium pay: more streamlined options to providing — Water, Sewer, Broadband Infrastructure: broadens eligible broadband infrastructure Each are discussed in more detail below: Replace lost public sector revenue: standard allowance up to $10M, not to City of San Marcos Page 9