ITEM TITLE:
#23-30 - Amending the 2023 City Budget by Accepting $825,458.96 in Unbudgeted COVID-19 FEMA Grant Revenues and Repealing Resolution 20-75
SUBMITTED BY: Barb Rusher, Finance Department
FISCAL NOTES:
Expenditure Required: n/a
Unencumbered Balance: 825,458.96
Funding Source: 350.8530.33442 FEMA COVID-19 Grant Revenue
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
This resolution formalizes acceptance of pending FEMA grant funds for COVID-19, released by the Federal Department of Homeland Security and administered by the State of Alaska.
This $825,458.96 represents reimbursement in full for eligible expenses related to the City of Valdez response to the COVID-19 pandemic. The grant is broken down into three projects in the FEMA system, so there are three award documents with a combined total of $825,458.96.
Resolution 20-75 was passed in 2020 to recognize the revenue from FEMA, but the grant was not formalized nor accepted by FEMA until 2023, so that revenue has not previously been received. This current resolution completely repeals Reso 20-75 and recognizes the grant revenue in its entirety at $825,458.96, as reimbursement for eligible expenditures incurred from March 2020 - July 2021 related to COVID-19.