New blog post from UNC School of Government looks at budgeting, financial management of ARP funds.
In the newest post on the American Rescue Plan from Kara Millonzi of the UNC School of Government, the professor of public law and government covers several critical topics surrounding financial management of ARP funds.
Perhaps most notably, Millonzi includes a sample grant ordinance. Such ordinances will be beneficial (and likely necessary) budgeting tools for local governments, as they allow for multi-year grant projects.
From the post:
"The benefit of a grant project ordinance is that it is effective for the life of the grant, which in the case of the ARP may run until December 31, 2026. Using a grant project ordinance also may help a governing board focus its appropriation decisions on the specific expenditure items authorized by the ARP, because these monies will not be mixed in with general fund appropriations."
Other topics covered in the post include Accepting Funds, Cash Management of Funds, and Budgeting of Funds.
This information has also been published to our Resources page.