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HomeMy WebLinkAboutOrdinance 025-20BARRETT BROTHERS - DAYTON. OHIO Ordinance No. RECORD OF ORDINANCES 25-20 Passed AN ORDINANCE AUTHORIZING THE ESTABLISHMENT OF THE CORONAVIRUS RELIEF SPECIAL REVENUE FUND AND DECLARING AN EMERGENCY WHEREAS, Section 5705.09, of the Ohio Revised Code, grants permission to the taxing authority of a subdivision to establish special funds, and WHEREAS, the Coronavirus Aid, Relief, and Economic Security Act, 116 Public Law 136, ("CARES Act') was signed into law by the President of the United States on March 27, 2020; and WHEREAS, the Ohio General Assembly established a process for distributing funds provided by the CARES Act in Amended House Bill 481 of the 133rd General Assembly (H.B. 481); and WHEREAS, one of the requirements for eligibility to receive and expend funds from the County Coronavirus Relief Distribution Fund is that subdivisions receiving such funds shall deposit them into a new fund in the subdivision's treasury to be named the Coronavirus Relief Fund, which shall be created for this purpose; and WHEREAS, Dublin has requested its share of funds from the County Coronavirus Relief Distribution Fund. NOW, THE R FORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, of its elected members concurring: Section 1. That there be established the Coronavirus Relief Fund, a special revenue fund. Section 2. That all funds distributed to the City of Dublin from the County Coronavirus Relief Distribution Fund be receipted into the Coronavirus Relief Fund. Section 3. That all receipts into the Coronavirus Relief Fund may be expended only to cover costs of the City consistent with the requirements of Section 5001 of the CARES Act as described in 42 U.S.C. 801 (formerly 42 U.S.C. 601), and any applicable regulations. Section 4. This ordinance is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare, in that it is in the best interest of the City of Dublin and for further reason that approving the creation of this Fund immediately is necessary to comply with the timelines required under Amended House Bill 481 of the 133rd General Assembly. This ordinance shall, therefore, take effect and be in force immediately upon passage. Passed this .1 day of Y, 2020. 6L Mayor - Presiding Officer ATTEST: Clerk of Council Form 6220S Office of the City Manager 5555 Perimeter Center • Dublin, OH 43017-1090 City of Dublin Phone: 614-410-4400 • Fax: 614-410-4490 Memo To: Members of Dublin City Council From: Dana L. McDaniel, City Manager Date: September 8, 2020 Initiated By: Matthew L. StifAer, Director of Finance Jerry O'Brien, Chief Accountant Re: Ordinance 25-20 Creating the Coronavirus Relief Special Revenue Fund and Declaring an Emergency Summary On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security Act (CARES) was signed into law by the President of the United States. As part of that federal legislation, $4.6 billion was allocated to the State of Ohio. Of this amount $2.0 billion will be distributed to local governments with $775 million going to local governments with a population of over 500,000. Of the remaining $1.2 billion, $350 million will be distributed utilizing a county's undivided local government fund formula as required by Ohio Amended House Bill 481. The distribution formula and timing of remaining funding has yet to be determined. Amended House Bill 481 established the requirements entities must fulfill in order to be eligible to receive and expend coronavirus relief funds. Contained in HB Bill 481 was a requirement that a subdivision wishing to request money from the County Coronavirus Relief Distribution Fund must pass a resolution agreeing to expend the money in accordance with the CARES Act and any applicable regulations. On July 27, 2020, Council passed Resolution No. 42-20 — Affirming that funds distributed under Amended House Bill 481 shall be expended by the City only for costs permitted under the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of the requirements in Amended House Bill 481 that subdivisions must fulfill in order to be eligible to receive coronavirus relief funds is that a subdivision requesting money must establish a new separate fund in the accounting system of the entity in which to receipt it. Therefore, the purpose of this ordinance is to establish the Coronavirus Relief Special Revenue Fund to receive and account for the City's share of the coronavirus relief funds. This ordinance is requested as an emergency. It is being recommended for adoption at the second reading and public hearing on September 28, 2020 with waiving of the 30 day waiting period. Amended House Bill 481 requires local funds unencumbered as of October 15, 2020 to be redistributed to local governments that have spent their full allocation. As this deadline would be prior to the effective date of this ordinance, the Ordinance must be approved as an emergency. If this ordinance is not passed as an emergency, the City may be required to return all CARES Act funding received since encumbering the money would not be possible before the deadline. Recommendation Staff recommends the adoption of Ordinance 25-20 as an emergency measure at the second reading/public hearing on September 28, 2020.