Distribution of ARPA Interest Funds Postponed

The Sheridan City Council, at their business meeting Monday night, were tasked with the decision of how to appropriate interest accrued from government funding. Sheridan Media’s Ron Richter has the details.

During her presentation to Mayor Rich Bridger and the City Council, Treasurer Darla Hawkins said the City previously allocated a portion of its American Rescue Plan Act funding to Sheridan County in support of a Housing Land Trust project.

While those funds were held by the County, interest was earned on the ARPA funds. Following the completion of the applicable ARPA funding period, Sheridan County returned the City’s portion of the interest earned in the amount $70,700.

The Council, following a motion by Councilman Terry Weitzel, voted to postpone the distribution of the ARPA interest funds until after the November election. City Councilor Bev Leichtnam.

The Council voted to postpone the matter until the November 16 business meeting.