(A) There is hereby created on the books of the Sebastian County Treasurer and the books of the Sebastian County Clerk or Comptroller a County General sub-fund to be known as the Local Assistance Tribal Consistency Fund or more commonly referred to as the LATC Fund. The fund number is 1007 and the revenue code is 7112 as assigned by Arkansas Legislative Audit. Any transfer codes; office/department codes; and expenditure codes are to be assigned locally using the County Financial Management System per the direction of Arkansas Legislative Audit.
(B) The LATC Fund is subject to all the normal county budgeting, appropriation and expenditure regulations of A.C.A. Title 14 and the County Financial Management System. In accordance with the ARPA the LATC funds are available for any governmental purpose other than a lobbying activity. LATC funds can be treated like general revenue funds or PILT payments. Proper records and documentation must be maintained on the use of these funds for the annual Obligation and Expenditure Report until all funds are expended and for federal audit purposes.
(Ord. 2022-24, passed 10-25-22)