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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. Clayton said, "So we finished last year at 1,290,000 and this year's budget transfers 1,250,000 of that to pay for vehicles this year." (staff member Clayton)
Council members asked about forecasting and whether the city had underbudgeted interest income in prior years. One member said the 2024 budget had assumed $50,000 of ARPA interest but actual 2024 interest came in at $1,290,000. Staff explained the forecasting approach: conservative assumptions are used because ARPA balances and market rates change with timing of spending and encumbrances.
Members discussed specific ARPA allocations: Chair Raikes noted the council recently approved moving $2,000,000 from a family-focused project into the water fund to avoid losing those ARPA funds, and members asked staff to circulate a detailed ARPA table (chronology, allocated amounts, amounts expended). Clayton confirmed the single audit covers ARPA and quarterly reporting is filed with the U.S. Treasury, and Erica Tejada was identified in the packet as an independent contractor hired full time for four years to support ARPA administration.
Committee members requested clearer monitoring and periodic reporting on project status for larger ARPA awards and asked staff to provide updated project-status information (encumbered amounts vs. expended amounts) and the electronic chart referenced in the packet to reconcile a noted balance on a firefighter reimbursement item.
Ending: Staff said they will share the ARPA tracking spreadsheet and consider periodic status reports on larger ARPA projects; no formal action was taken at the meeting.
