WHEREAS, the American Rescue Plan Act of 2021, Public Law No. 117-2, (ARP Act) was signed into law by the President of the United States on March 11, 2021; and

WHEREAS, unlike the previous federal CARES Act adopted last year, the ARP Act provides for direct and indirect relief payments to local governmental entities including the city of Oakwood; and

WHEREAS, in order to receive the funds for which the city is eligible, the Federal Funding Accountability and Transparency Act (FFATA) requires separate accountability for direct recipients as well as subrecipients of federal awards greater than $25,000; and

WHEREAS, to comply with these requirements, the City must account for ARP monies in a new segregated fund to be known as the “Local Fiscal Recovery Fund,” which will allow such funds to be separately accounted and reported; and

WHEREAS, Council finds it necessary and desirable to establish such a fund; and

WHEREAS, pursuant to guidance from the Ohio Auditor of State, Bulletin 2021-004, this fund may be established by local legislative action without requiring approval from the Auditor of State;

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF OAKWOOD, STATE OF OHIO, THAT:

Through this ordinance a new fund entitled the Local Fiscal Recovery Fund is created.

The Director of Finance is hereby authorized and directed to take such actions as may be necessary to enter the same upon the fiscal records of this city, and to utilize the same immediately for the purposes provided by law.

This ordinance is hereby declared to be an emergency measure and as such shall take effect immediately, on the basis that it is necessary to create the new fund promptly so that it is in place to receive coronavirus relief funds as soon as the same may become available, and on the further basis of protection of the public peace, health, safety and welfare.

PASSED BY COUNCIL OF THE CITY OF OAKWOOD, this _______ day of ____________, 2021.