The city of Longmont needs to keep the $12 million it received from the federal government for COVID-19 relief tucked in its own spot on the budget.
That’s the assessment of city officials. And this week councilors agreed, passing a resolution that puts the $12,973,267 Longmont received from the American Rescue Act of 2021 into a new fund called the State and Local Fiscal Recovery Fund — or SLFRF.
The American Rescue Plan Act was a $1.9 trillion economic stimulus package to help the nation recover from the economic slowdown caused by the COVID-19 pandemic.
Given the size of Longmont’s portion of ARPA funds, it is a “best practice to keep these funds separate which will aid in our being prepared for future audit by the Office of the Inspector General,” Jim Golden, Longmont’s CFO said in a staff report to the city council.
The city council unanimously passed the resolution.