Subject:
Title
COVID-19 Update and cares Act Funding
Body
BACKGROUND SUMMARY:
Due to the spread of COVID-19 (Coronavirus), states of emergency were declared at the State, Federal and local levels in mid-March, 2020.
On March 27, 2020 the US Federal Government passed the Coronavirus Aid, Relief, and Economic Securities Act (CARES Act) to provide support directly to State, Local and Tribal governments to address the COVID-19 pandemic. Governments with populations over 500,000 could apply for direct Federal payment from the CARES Act. Fairfax County was the only jurisdiction in the Commonwealth, aside from the Commonwealth itself, who received direct funding, and they passed a proportionate amount of direct funding to the Town. The Town’s portion was $2.886 million.
OVERVIEW:
The Police Chief will present an update of the status and effect of the pandemic on the health of citizens in the community.
The Director of Finance and the Economic Development Manager will present a summary of expenditures Town staff has forecasted to spend our portion of the CARES funds.
According to the guidance on the Act from the U.S Treasury Department, CARES Act funds can only be used to cover costs that:
1. Are necessary expenditures incurred due to the public health emergency with respect to the Coronavirus 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.
Funds are specifically restricted from providing support for any revenue shortfalls.
After Council discussion, Town staff will present a plan for Council to approve at the June 1 Council meeting.
SUMMARY/STAFF IMPRESSIONS:
RECOMMENDATION:
Recommended Action
Finance and Economic Development staffs recommend that Council give direction on the use of the CARES Act funding.