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<br /> During periods of economic contraction and expansion, some of these metrics tend to be sensitive with economic
<br /> performance particularly sales tax, permits and excise stamps (real estate transfers).The FY 2022-23 first quarter metrics
<br /> indicate a resilient County economic base consistent with the recent U.S. Gross Domestic Product increase of 2.6%.
<br /> However, the County's excise stamps (real estate transfers) has decreased due to a higher interest rate environment,
<br /> which has slowed home sales and refinancing.
<br /> The American Rescue Plan Act (ARPA)funds has been an integral contributor to the County's economy.Table 2 below
<br /> indicates the County's ARPA allocations and project life expenditures from inception through September 30, 2022.
<br /> The County submitted its most recent quarterly expenditure report to the U.S.Treasury Department on October 31,2022
<br /> showing expenditures of$8.8 million from March 1, 2021 through September 30, 2022.
<br /> As indicated below, Housing and Human Services has been the predominant ARPA expenditure to date compromising 82%
<br /> of life-to-date expenditures through September 30, 2022. The focus by the Board and Manager on these basic human
<br /> rights has added to further stability in the County's economy.
<br /> Table 2:American Rescue Plan Act Expenditures to Date
<br /> Life to Date September 30, 2022
<br /> Spending Plan Categories Total Obligated Expenses
<br /> Aging $ 119,229 $ -
<br /> Criminal Justice Resources $ 49,751 $ 38,414
<br /> Social Services $ 706,550 $ 185,312
<br /> Emergency Services $ 2,731,300
<br /> Facilities $ 119,936 $ 114,424
<br /> ARPA Administration $ 66,886 $ 35,500
<br /> Housing $ 10,047,632 $ 7,073,027
<br /> Human Rights and Relations $ 61,540 $ 26,556
<br /> Broadband Access $ 10,000,000 $ 1,000,000
<br /> Tourism,Arts,and Economic
<br /> Development $ 486,000 $ 415,083
<br /> Unassigned $ 4,450,898
<br /> Total $ 28,839,722 $ 8,888,316
<br /> The Board approved the first tranche and allocation of$14.4 million on June 15, 2021 and the second tranche and
<br /> allocation on December 14, 2021. ARPA funds must be obligated by December 31, 2024, and fully spent by December 31,
<br /> 2026. The remaining unobligated amount of$4.4 million is slated for a forthcoming budget amendment this fiscal year.
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