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Walworth County reports about $3.6 million in ARPA funds remain; Spectrum closeout may reduce that by roughly $500,000
Summary
County staff reported roughly $3.6 million in American Rescue Plan Act funds remain; staff expect federal reports to be updated and said expected ARPA interest income totals about $2 million.
Walworth County finance staff reported the county has approximately $3.6 million remaining in American Rescue Plan Act (ARPA) funds and updated the committee on project closeouts and interest earnings.
Staff said Spectrum expects to receive a closeout letter from the Public Service Commission shortly for a broadband project that could affect about $500,000 of the county's ARPA allocations; because the PSC closeout is pending, the funds were described as potentially not available by the next financial report.
Committee members asked what happens to ARPA funds if projects do not proceed; staff said funds that are not obligated or otherwise allowable under federal rules would be returned. Staff also said all of the county's ARPA funds are committed in contracts or program plans and that they expect no ARPA funds to be returned from Walworth County's current project portfolio.
On ARPA interest, a staff member said the county anticipates approximately $2,000,000 in interest earnings related to ARPA funds.
Staff said they will continue to update the committee as federal and state processes (including PSC closeouts and broadband grant awards) move toward final closeout and disbursement.
