Agenda 09/09/2025 Item #16D 4 (Budget Amendments recognizing interest earned on advanced grant funds received from the U.S. Department of Treasure)9/9/2025
Item # 16.D.4
ID# 2025-2557
Executive Summary
Recommendation to authorize Budget Amendments recognizing interest earned from the period of October 1, 2024,
through March 31, 2025, on advanced funding received from Treasury from the following grant programs: State and
Local Fiscal Recovery Fund, and the Local Assistance and Tribal Consistency Fund in the amount of $390,422.05 to
Community & Human Services Grant Support Fund (1806).
OBJECTIVE: To recognize interest earned on advanced grant funds received from the U.S. Department of Treasury to
support the County’s strategic plan by providing access to health, wellness, and human services in Collier County.
CONSIDERATIONS: Congress has passed several pieces of legislation that provided funding for states, counties,
municipalities, and tribal governments. Large pieces of legislation, such as the Coronavirus Aid, Relief, and Economic
Security (CARES) Act, The Consolidated Appropriations Act of 2021, which included a $900 billion COVID-19 Relief
package, and the American Rescue Plan Act of 2021 (ARP) made funds available for a variety of uses for pandemic
recovery.
ARP was signed into law on March 11, 2021. Included in the ARP legislation was a $350 billion Coronavirus State and
Local Fiscal Recovery Fund (CLFRF), Collier County received an allocation of $74,762,701. On June 22, 2021, Agenda
Item #11.H, the Board of County Commissioners (Board) accepted the ARP Program. Interest was earned from advance
payment from October 1, 2024 through March 31, 2025, in the amount of $361,435.78.
The ARP legislation funding package totaling $2 Billion that authorized the U.S. Treasury to make payments to certain
recipients from the Local Assistance and Tribal Consistency Fund (LATCF) was signed into law on March 11, 2021.
The purpose of the LATCF funding is to serve as a general revenue enhancement program.
On December 12, 2022, Agenda (Item#16. D.9), the board approved the allocation of $1,790,192 from the U.S. Treasury
for the LATCF program. The interest earned from advance payments from October 1, 2024, through March 31, 2025,
total $28,986.27.
The interest earned from CLFRF and LATCF are not subject to the requirement of the Cash Management Improvement
Act and Treasury’s implementing regulations at 31 CFR Part 205 or 2 CFR 200.305(b)(8)-(9). As such, recipients can
place granted funds in interest-bearing accounts and do not need to remit interest to Treasury. Guidance also states that
recipients are not limited to using the interest for eligible uses under the award. The interest advances earned in LATCF
are not subject to the Uniform Guidance provisions under 2 C.F.R. 200.100 (b).
Staff is seeking the Board’s authorization to appropriate interest earned towards expenditures in support of Community
& Human Services programs that provide access to health, wellness, affordable housing, and human services in Collier
County.
Revenue received:
Program Overnight
Interest Received
Investment
Interest Received
Total Received
CLFRF $180,717.89 $180,717.89 $361,435.78
LATCF $14,493.13 $14,493.14 $28,986.27
Totals $195,211.02 $195,211.03 $390,422.05
This item is consistent with the Collier County strategic plan objective by providing access to health, wellness, and
human services in Collier County.
FISCAL IMPACT: Budget Amendments are required to recognize interest earned total in the amount of $390,422.05
from accrued interest within Housing Grant Fund (1835), Projects 33765 ($361,435.78) and 33843 ($28,986.27). Funds
will be transferred to Housing Support Grant Fund (1806) and will be placed in Reserves for future non-reimbursable
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9/9/2025
Item # 16.D.4
ID# 2025-2557
grant expenses or future match for grants. When requesting use of the funds in the Reserves, CHS will bring the request
to the BCC for approval.
GROWTH MANAGEMENT IMPACT: There is no growth management impact associated with this item.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises no legal issues and
requires a majority vote for approval. -JAK
RECOMMENDATIONS: Recommendation to authorize Budget Amendments recognizing interest earned from the
period of October 1, 2024, through March 31, 2025, on advanced funding received from Treasury from the following
grant programs: State and Local Fiscal Recovery Fund, and the Local Assistance and Tribal Consistency Fund in the
amount of $390,422.05 to Community & Human Services Grant Support Fund (1806).
PREPARED BY: John G Francois, Accountant Corporate Finance and Management Services on behalf of Community
and Human Services Division
ATTACHMENTS:
1. BA 1835 1806 Interest earned thru 3.31.25
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