WHEREAS, the Coronavirus Aid, Relief, and Economic Security Act, 116 Public Law 136, (the CARES Act) was signed into law by the President of the United States on March 27, 2020; and

WHEREAS, in June 2020, the Ohio General Assembly established a process for distributing funds provided by the CARES Act in S.B. 310 of the 133^rd General Assembly, including funds that will be distributed to local municipalities to reimburse certain unbudgeted expenditures associated with the city’s COVID-19 mitigation and response; and

WHEREAS, part of the process established by S.B. 310 was the requirement that each municipality must create a fund within its financial records to be known as the “Local Coronavirus Relief Fund,” which was accomplished in Oakwood by Ordinance No. 4916, adopted as an emergency measure on July 20, 2020; and

WHEREAS, although the Oakwood’s Local Coronavirus Relief Fund did not exist until its legislative authorization on July 20, 2020, CARES Act reimbursement monies are available for qualified city expenditures made between March 1, 2020, and December 30, 2020, meaning that qualified expenditures have been made during the relevant time period from various city accounting funds, and must now be consolidated into the Local Coronavirus Relief Fund;

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

The Director of Finance is hereby authorized and directed to make such amended accounting entries within the financial records of the city as are necessary to consolidate all expenditures that qualify for CARES Act reimbursement within the Local Coronavirus Relief Fund established by Ordinance No. 4916, regardless of which funds were originally used as a placeholder to account for such expenditures.

This ordinance is hereby declared to be an emergency measure and as such shall take effect immediately, on the basis that corrective accounting entries must be made promptly in order to satisfy the requirements of S.B. 310 within applicable timelines, and on the further basis of protection of the public peace, health, safety and welfare by avoiding economic hardship that could result from failure to make such amended entries.