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City officials say Akron has obligated full ARPA award, reallocate $8.82 million to fixed costs
Summary
City finance staff and outside consultants told the Budget & Finance Committee they have obligated 100% of Akron's $145.3 million American Rescue Plan Act award, spent roughly 80% and shifted $8,821,996.50 of committed projects into predictable fixed costs to avoid returning funds to the U.S. Treasury.
Akron finance officials and a Guidehouse consultant told the city’s Budget & Finance Committee that Akron has fully obligated its $145.3 million American Rescue Plan Act award and has spent about 80% of it, with roughly $116 million expended to date. The presentation outlined steps the administration took in late 2024 to avoid returning federal funds that could not be contractually obligated by the December 31, 2024 deadline.
City Finance Director Tom Wheeler and Guidehouse consultant Mitch Lundstrom told committee members that obligation under Treasury rules requires an executed legal agreement and reporting in a quarterly report. Lundstrom said the city refined its “obligation strategy” to replace project line items where spending or contracting uncertainty risked leaving…
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