2020 Consolidated Major Revenue and Debt Report

help the community by funding various projects such as daycare centers, afordable housing, new park facilities, and other projects. Uses and Restrictions: This revenue source may be used to undertake a wide range of activities directed toward neighborhood revitalization, economic development, and the provision of improved community facilities and services. The community develops its own programs and funding priorities; however, the programs must conform to statutory standards and program regulations. The community may contract with other local agencies or nonproft organizations to carry out part or all of their programs. All activities under this program must either beneft low- and moderate-income persons, aid in the prevention or elimination of slums and blight, or meet other community development needs. U.S. TREASURY CORONAVIRUS RELIEF FUND (CRF) 2020 Budget: $ 18,921 ,160 2020 Actual: $ 48,821,570 2021 Budget: $ 75,684,634 Legal Authorization: Florida Statutes, Section 129.06, 215.422, 215.971 and 216.347; County Resolution 2020-250; CARES Act Funding Agreement Y22631. Description: The Coronavirus Aid, Relief, and Economic Security (CARES) Act that was signed into law on March 27, 2020, is a $2 trillion economic relief package designed to mitigate the economic impacts of COVID-19. Through the CARES Act, Treasury Coronavirus Relief Funds (CRF) provide for payments to any county, municipality, town, township, village, parish, borough or other unit of general government below the state level with a population that exceeds 500,000, based on current U.S. Census Bureau data. Uses and Restrictions: The state of Florida has received a total of $8.3 billion in relief funding; of this amount, Sarasota County is eligible to receive funding up to approximately $75.7 million. The initial 25 percent allocation of $18.9 million has been received from the State. On July 7, 2020, the Sarasota County Commission approved four funding distribution categories for the funds: 1. Health and Medical 2. Economic Recovery 3. Food, Water, Shelter 4. Safety and Security The Florida Division of Emergency Management (FDEM) is administering the funds on behalf of the U.S. Treasury. Sarasota County, as a subrecipient of these funds from FDEM, has received the initial 25 percent allocation, and these funds will be distributed as county programs are developed and implemented under Board direction. The County has received approval from FDEM for receipt of an additional 20 percent allocation. The remaining 55 percent allocation will be provided on a reimbursement basis. The fund fnances necessary expenditures incurred due to the global health crisis – COVID-19 – and expenditures not accounted for in County approved budget as of the date of enactment of the CARES Act. FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) DISASTER GRANTS - PUBLIC ASSISTANCE 2020 Budget: $ 1 , 881 , 235 2020 Actual: $ 5,190,874 2021 Budget: $ 0 Legal Authorization: Title 2 Code of Federal Regulations (CFR), Subtitle A, Chapter II, Part 200; Florida Statutes, Section 215.971; Section 403 of the Robert T. Staford Act. Description: The United States Department of Homeland Security (DHS) Federal Emergency Management Agency (FEMA) granted money, under its Public Assistance (PA) grant program, to Sarasota County to cover hurricane related costs. FEMA’s Public Assistance grant program is an essential source of funding for communities recovering from a federally declared disaster or emergency. The Florida Division of Emergency Management works with FEMA during all phases of the PA program and conducts fnal reviews of FEMA-approved projects. Uses and Restrictions: The grants cover hurricane related expenses, reimbursing eligible applicants for the cost of debris removal; life-saving emergency protective measures; and the repair, replacement or restoration of disaster-damaged buildings, roads and utilities. The federal share for Public Assistance projects is not less than 75 percent of the eligible cost. Florida determines how the non-federal share of the cost of a project (up to 25 percent) is split with sub-recipients like local county governments. SarasotaClerk.com 17