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Committee reviews ARPA spending, interest income and oversight; staff says ARPA is on track
Summary
Committee members reviewed ARPA balances, interest earnings, controls and reporting. Staff said the ARPA portfolio earned $1.29 million in 2024 and that ARPA projects totaling $43 million remain tracked; single-audit and quarterly Treasury reporting cover compliance.
Evanston—s Finance & Budget Committee reviewed the status of American Rescue Plan Act (ARPA) funds, interest earnings and the city—s oversight arrangements for ARPA recipients.
Committee Chair Raikes opened the agenda item noting staff had provided a memo and that the committee had been updated at a recent council meeting. Clayton (staff) reported that the ARPA portfolio finished the prior year with $1,290,000 in interest earnings, and that the 2025 budget included a $1,250,000 transfer of ARPA interest to pay for vehicles.…
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