(A) The Common Council, upon direction by and through the State Board of Accounts (SBOA), hereby establishes a local fund for receipt and disbursement of funds received through the American Coronavirus Local Fiscal Recovery Grant Fund of 2021 and, pursuant to I.C. 5-11.
(B) The single source of income for the Fund shall be receipt of monies from the American Rescue Plan Act of 2021(ARP) and/or any subsequent deposit of funds which could or might be directed by state and federal agencies to said Fund.
(C) Funds receipted into the ARP Fund shall require additional appropriation (Common Council) approval and any expense must adhere to eligible purposes as detailed in Section 603(c) of ARP as established in 2021 and to such amendments in said Section 603(c) which could be forthcoming.
(D) Management of the Fund shall be completed in adherence to Processes and Accounting Procedures as detailed by the State Board of Accounts (SBA) in State Examiner Directive 2021-1 and subsequent memorandum dated March 18, 2021 and in accordance with in place accounting procedures as approved through the SBOA and any and all subsequent directives through the SBOA.
(Ord. 9-2021, passed 5-25-2021)