Coversheet


	Village Board 9/20/2021

Item:	American Rescue Plan Act Budget Amendments
Department:	Finance

The Village received $3,386,000 from the American Rescue Plan Act (ARPA) in 2021. The recommended budget amendments modify the 2021 Budget to reflect the American Rescue Plan Act Spending Proposal and the planned closure of the Public Building Fund, as discussed at the June 28, 2021 Committee-of-the-Whole Meeting and approved at the July 6, 2021 Board Meeting. The second half of the ARPA grant funds to the Village will be received in 2022, and will be included in the proposed 2022 Budget.

The aforementioned changes result in a total of $650,000 being transferred to the AE&E Fund to be used for lost revenues due to the pandemic, and future required Metropolis building repairs. The final budget amendment reflects transferring $500,000 to the Metropolis Reserve for Replacement.

RECOMMENDATION:

It is recommended that the Village Board approve the attached ordinance amending the 2021 Budget as follows:

Account Being Amended

Original

Amendment Incr./(Decr.)

Revised

Capital Projects Fund Other Grant Revenue

Capital Projects Fund Operating Transfer Out

Capital Projects Fund ARPA Grant Park Dist.

Water & Sewer Fund Operating Transfer In

Fleet Fund Operating Transfer In

Municipal Parking Fund Operating Transfer In

AE&E Fund - Operating Trans. In

AE&E Fund - Metropolis Reserve for Replacement

$780,000

$450,000

$75,000

$3,386,300

$2,500,000

$500,000

$2,500,000

($780,000)

$580,000

$200,000

$500,000

$3,386,300

$2,500,000

$500,000

$2,500,000

$580,000

$650,000

$575,000

ATTACHMENTS:
Description	Type
Ordinance - ARPA Revenue Allocation	Ordinance
American Rescue Plan Grant - Spending Proposal	Memorandum