(a) There is hereby created a fund to be known as the Coronavirus Relief Special Revenue Fund to account for the receipt and expenditure of Coronavirus Relief Funds received under the Social Security Act as amended by Section 5001 of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") along with any other revenue related to this program.
(b) Revenue credited to the Coronavirus Relief Special Revenue Fund shall be used to cover expenses that:
(1) Are necessary expenditures incurred due to the public health emergency with respect to the novel Coronavirus/COVID-19 disease;
(2) Were not accounted for in the budget most recently approved as of March 27, 2020; and
(3) Were incurred during the period that begins on March 1, 2020 and ends on December 30, 2020;
(c) The Coronavirus Relief Special Revenue Fund is established in accordance with Ohio Revised Code Section 5705.09 Establishment of Funds, Subsection (F) which requires a political subdivision to establish a special revenue fund for each class of revenues derived from a source other than the general property tax which the law requires to be used for a particular purpose. As the CARES Act Funding provided pursuant to the CARES Act is a new federal program with a restricted purpose, the City has the inherent authority to establish a new fund without seeking approval of the Auditor of the State.
(Ord. 2020-43. Passed 7-23-20.)