Title
Vote on a request to approve the adoption of a Coronavirus Aid, Relief, and Economic Security (CARES) Act fund budget for FY21
Abstract
Action Requested: Vote on a request to approve the adoption of a Coronavirus Aid, Relief, and Economic Security (CARES) Act fund budget for FY21
Discussion & Analysis: Recently released guidance related to the CARES Act funding maintains that funds should be budgeted for and accounted for in a special revenue fund as outlined in NCGS 159-26(b)(2).
The CARES Act fund budget will track all eligible CARES Act expenses. The recommended budget for the CARES Act Fund will be as follows:
|
Revenues |
|
|
COVID Relief Fund |
$1,445,310 |
|
Expenditures |
|
|
COVID Expenses |
$1,445,310 |
|
Total |
$1,445,310 |
|
|
|
How does this relate to the Comprehensive Plan: N/A
Budgetary Impact: The CARES Act fund budget will have no net impact in the FY21 budget.
Recommendation: Motion to approve the adoption of a Coronavirus Aid, Relief, and Economic Security (CARES) Act fund budget for FY21