Based on the review of recent guidance related to ARPA funding, the County Comptroller’s Office has identified that Ulster County may apply to recognize a minimum of $8 million of the ARPA allocation as “public sector revenue loss” for 2020 freeing a substantial portion of the funding from the strict ARPA eligibility and reporting requirements and providing much more flexibility in the use of the funds.
The analysis was made after reviewing the U.S. Treasury regulations, guidance from National Association of Counties, New York State Association of Counties, and the Government Finance Officers Association (which published an ARPA lost revenue calculator). These findings have been communicated to the Department of Finance and the County Executive’s Office and they have agreed to pursue the implementation of the lost revenue calculation to be filed as a part of the County’s next ARPA filing in January of 2022…