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Toledo says ARPA obligations complete; $37.2 million remains to spend; CIP transfer and audit timeline set
Summary
Finance staff told the committee the Toledo Recovery Plan (ARPA) obligations are complete and $37.2 million remains to be expended through the end of 2026; staff also described timing for a CIP transfer and an upcoming external audit.
Director of Finance Melanie Campbell told the Finance, Debt and Budget Oversight Committee that the Toledo Recovery Plan (the city's ARPA program) is fully obligated and that $37,200,000 remains to be expended between now and the end of 2026.
"Now reporting through April of 2025. You'll see that everything is obligated as we've met that deadline at the end of 2024. And $37,200,000 remains to be expended, between now and the end of 2026," Campbell said.
Campbell also noted the packet included the capital-improvement project (CIP) report and said the administration expects the transfer from CIP to be executed as the city closes out 2025. "We'll do that as we close out 2025," she said when asked about the timing of the transfer.
On the audit schedule, Campbell said the city is on track to submit the basic financial statements to the Henkel system on Friday and that outside auditors will begin fieldwork in June. She named the external auditors expected to perform the work as "Clark, Shafer and Harry." "We're on track to submit the financials ... and then the auditors will show up in June to do their audit," she said, with an expected public release following internal and state review later in the summer.
Why it matters: the ARPA obligation status and remaining expendable balance set the window for projects still to be executed or contracts to be completed under ARPA timelines. The CIP transfer timing affects year-end financing and how certain capital projects are funded.
No committee action or vote followed the update; staff offered to take questions and provide follow-up material if members requested additional detail.
