ARPA Funding Guidelines Presented to Council

The Sheridan City Council at a study session Monday night received an update from City Attorney Brendon Kerns about the funds the City will receive as part of the $1.9 trillion American Rescue Plan Act that became law in early March. Kerns said Sheridan is poised to receive $2.739 million from the ARP and highlighted the spending restrictions that have been placed on the funds by the government. Kerns said Congress identified four eligible uses for the funds.

The funds, according to the 139 page U.S. Treasury guidelines, cannot be used to directly or indirectly offset tax reductions or delay a tax or tax increase and cannot be deposited into any pension fund. Funding must be spent by the end of the calendar year 2024.