CITY OF ALAMEDA RESOLUTION NO.
AMENDING THE FISCAL YEAR 2024 -25 AMERICAN RESCUE
PLAN ACT FUND (FUND 223) OPERATING BUDGET
APPROPRIATING $87,113 FROM AVAILABLE EARNED
INTEREST TO PROJECT C99300 (AMERICAN RESCUE PLAN
2021) GUARANTEED BASIC INCOME PILOT PROGRAM AND
REDUCING THE APPROPRIATION OF ARPA FUNDS BY $87,113
WHEREAS, on June 18, 2024, the City Council adopt ed by Resolution No. 16173 a budget representing the financial plan for conducting the affairs of the City of Alameda for the Fiscal Year beginning July 1, 2025 and ending June 30, 2025; and
WHEREAS, the City is unable to obligate the remaining funds received from the American Rescue Plan Act of 2021 (ARPA) and appropriated for the Guaranteed Basic Income Pilot Program by the deadline of December 31, 2024, through purchase order or contract; and
WHEREAS, the City is authorized to earn interest on ARPA funds as pending expenditure and these earned interest funds are considered unrestricted and available for use; and
WHEREAS, staff is proposing to reduce the unobligated ARPA funds appropriation $87,113 in the Guaranteed Basic Income Pilot Program under the American Rescue Plan Act (ARPA/Project C99300); and
WHEREAS, staff is recommending appropriating $87,113 from ARPA earned interest from ARPA Fund (Fund 223) to the Guaranteed Basic Income Pilot Project under the American Rescue Plan Act (ARPA /Project C99300 ) to cover benefit conservation and contingency funds needed for the Guaranteed Basic Pilot Program; and
WHEREAS, the City Council has reviewed the report and recommendations of the City Manager regarding the budget amendment and has determined that the proposed amendment is both fair and appropriate.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Alameda that budget amendment for the Fiscal Year 2024 -25 Budget is approved . The amendment includes the following:
1. Appropriation of $87,113 in earned interest from the ARPA Fund (Fund 223) to Project C99300 (American Rescue Plan 2021) for the Guaranteed Basic Income Pilot Program.
2. Reduce the American Rescue Plan Act 2021 appropriated ARPA funds allocation by $87,113 from Guaranteed Basic Income Pilot Program.
* * * * * *
I, the undersigned, herby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda in a regular meeting assembled on the 17th day of December 2024, by the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
IN WITNESS, WHEROF, I have hereunto set my hand and affixed the seal of said City this 18th day of December 2024.
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
Yibin Shen, City Attorney
City of Alameda