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40 <br /> ORANGE COUNTY POLICY FOR PROGRAM INCOME RELATED TO THE <br /> EXPENDITURE OF AMERICAN RESCUE PLAN ACT FUNDS <br /> WHEREAS, Orange County has received an allocation of funds from the Coronavirus "State <br /> Fiscal Recovery Fund" or "Coronavirus Local Fiscal Recovery Fund" (together "CSLFRF") <br /> established pursuant to Sections 602 and 603 of the Social Security Act, as added by Section <br /> 9901 of the American Rescue Plan Act of 2021, Pub. L. No. 117-2 ("ARPA"). <br /> WHEREAS, Orange County shall comply with the terms of ARPA, and the U.S. Department of <br /> Treasury's ("Treasury") federal regulations governing the spending of CSLFRF funds, including <br /> the Final Rule, and Treasury's regulations governing expenditures of CSLFRF funds, including the <br /> Award Terms and Conditions, Compliance and Reporting Guidance for the State and Local Fiscal <br /> Recovery Funds (together the "Federal regulations"), and any additional guidance Treasury has <br /> issued or may issue governing the spending of CSLFRF funds. <br /> WHEREAS, Orange County shall comply with the Uniform Administrative Requirements, Cost <br /> Principles, and Audit Requirements for Federal Awards, 2 C.F.R. Part § 200 (the "Uniform <br /> Guidance"); and <br /> WHEREAS, Orange County shall account for program income per the requirements set forth in <br /> the Uniform Guidance, including, but not limited to, 2 C.F.R. § 200.307, and as stipulated in <br /> Compliance and Reporting Guidance for the State and Local Recovery Funds, which provides: <br /> "Recipients of CSLFRF funds should calculate, document, and record the organization's program <br /> income. Additional controls that your organization should implement include written policies <br /> that explicitly identify appropriate allocation methods, accounting standards and principles, <br /> compliance monitoring checks for program income calculations, and records." <br /> I. PURPOSE AND SCOPE <br /> Orange County enacts the following procedures for its use of program income earned from the <br /> expenditure of CSLFRF funds to ensure compliance with the Uniform Guidance, including, but <br /> not limited to, 2 C.F.R. § 200.307, the ARP/CSLFRF award, and all applicable Federal regulations <br /> governing the use of program income. Orange County (hereafter "Unit" or "Orange County") <br /> agrees to administer program income according to the requirements set forth in this policy and <br /> as required by the Federal regulations and State law. <br /> The responsibility for following this policy lies with the Chief Financial Officer and Deputy <br /> Financial Services Director, who are charged with the administration and financial oversight of <br /> the ARP/CSLFRF award. Questions on the use and/or reporting of program income should be <br /> directed to the Orange County Attorney. <br /> II. DEFINITIONS <br /> a. ARP/CLSFRF award means the Federal program governing the use of Coronavirus State <br /> and Local Fiscal Recovery Funds as provided in the Assistance Listing and as <br /> 1 <br />