Title
Subject: Amendments To Resolution 88574 To Assure Compliance With American Rescue Plan Act (ARPA) Regulations
From: Finance Department
Recommendation: Adopt A Resolution:
(1) Amending And Superseding Resolution No. 88574 C.M.S. Which, Among Other Things, Created The American Rescue Plan Act (“ARPA”) Fund (Fund 2072), Accepted And Appropriated The Anticipated Award Of ARPA Funds, And Amended The Fiscal Year (“FY”) 2020-21 Midcycle Budget;
(2) Creating The American Rescue Plan Act (“ARPA”) Fund (Fund 2072) From Which No Expenditures Shall Be Made Except For The Purpose And In The Manner Specified By The City Council Following A Public Process And Public Vote Pursuant To Charter Section 806;
(3) Accepting And Appropriating The Anticipated Award Of ARPA Funds To The City Of Oakland (“City”) In An Estimated Amount Of One Hundred Eighty-Eight Million Eighty-One Thousand Seven Hundred Dollars ($188,081,700) To The ARPA Fund (Fund 2072);
(4) Authorizing The City Administrator To Take Any And All Actions Necessary To Receive ARPA Funds Awarded To The City;
(5) Amending Resolution No. 88174, Which Adopted The Fiscal Year (“FY”) 2020-21 Midcycle Budget Adjustments, To Allocate ARPA Funds In An Amount Not To Exceed Thirty-Six Million Six Hundred Thirty Thousand Dollars ($36,630,000), Ten Million Dollars ($10,000,000) Received From The Oakland-Alameda County Coliseum Joint Powers Authority, And Twenty-Five Million Five Hundred Thousand Dollars ($25,500,000) In General Purpose Fund Local Tax Revenues Forecasted To Be Received By Fiscal Year-End, To:
(A) Balance The FY 2020-21 Budget By
(I) Closing The Deficit In The General Purpose Fund (Fund 1010);
(II) Closing The Deficit In The Office Of Parks And Recreation Cultural Advisory (“OPRCA”) Self Sustaining Revolving Fund (1820), The Measure Z Violence Prevention And Safety Act Of 2014 Fund (2252), And The Measure C Transient Occupancy Tax (“Tot”) Surcharge Fund (2419); And
(B) Align The General Purpose Fund (Fu...
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