HomeMy WebLinkAboutCity Council Resolution 22-004, Budget Adjustment- Establishing SLFRF Special Revenue Fund, adopting Stormwater Mgmt project budgetsRESOLUTION NO.22-004
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SARATOGA
ESTABLISHING THE SLFRF SPECIAL REVENUE FUND AND
ADOPTING STORMWATER MANAGEMENT PROJECT BUDGETS
IN THE SLFRF FUND IN FISCAL YEAR 2022
WHEREAS, in June 2021 the United States Department of the Treasury (Treasury) released
funding awards for local governments and the City was awarded $7,213,239 in Coronavirus State
and Local Fiscal Relief Funds (SLFRF,) a part of the American Rescue Plan Act; and
WHEREAS, Treasury's January 2022 SLFRF final rule identifies stormwater management
projects as eligible uses of SLFRF award funds and reaffirmed the deadline for recipients to
obligate award funds is December 2024 and the deadline for recipients to expend award funds is
December 2026; and
WHEREAS, SLFRF awards are restricted by Treasury guidelines and subject to special audit and
compliance requirements unique to SLFRF thereby requiring the creation of a new special revenue
fund on the City's general ledger accounting system; and
WHEREAS, the City's stormwater infrastructure requires funding in excess of $7,213,239 to
improve water quality in the City, downstream jurisdictions, and the San Francisco Bay; and
WHEREAS, City staff have presented a package of projects to advance the clean water objectives
of the SLFRF and City Council now desires to authorize proposed stormwater management
projects in an amount not to exceed $7,213,239 in fiscal year 2022;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Saratoga hereby
authorizes the following:
1. Creation of a new accounting fund titled "SLFRF Fund," to record all SLFRF financial
activity; and
2. Fiscal year 2022 budget and stormwater management projects as provided in Exhibit A.
Resolution 22-004
Page 2
BE IT FURTHER RESOLVED, the above and foregoing resolution was passed and adopted at
a regular meeting of the Saratoga City Council held on 2"d day of March 2022 by the following
vote:
AYES: COUNCIL MEMBERS BERNALD, KUMAR, ZHAO, VICE MAYOR
FITZSIMMONS, MAYOR WALIA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Tina Walia, Mayor
ATTEST:
DATE: j -,S - t.2Daa
Britt Avrit, MMC, City Clerk
Resolution 22-004
Page 3
EXHIBIT A
Fiscal Year 2022 State and Local Fiscal Relief Fund (SLFRF) / American Rescue Plan Act
Budget Adoption
(Expenditure)
SURF award funds (July 2021 and June 2022)
$7,213,239
Stormwater Management Projects*:
Saratoga Village Water Quality Improvement Plan
(6,093,239)
Stormwater Pollution Prevention Plan Compliance
(150,000)
Prospect Road Green Infrastructure
(370,000)
Sewer Laterals & Water Conservation Measures for Park
(300,000)
Restrooms
Stormwater Management Master Plan
(300,000)
Net Impact on General Fund
$p
*Includes contract compliance costs in an amount not to exceed $20,000 per year
for a total estimated cost
of $80.000, allocated to the project budgets above as incurred.