On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law to address economic relief pertaining to the COVID-19 pandemic in the United States. The Finance Department is requesting the approval of creation of a new Fund named “CARES Act 2020” to be used to administer the fiscal matters related to coronavirus, and to establish the sources and uses of the funds therein. Further, a separate interest bearing fund is needed for the tracking of such awards received by the City of Houston.
Council approval of creation of the CARES Act 2020 Fund is recommended.
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Tantri Emo, Chief Business Officer/Director of Finance
Fiscal Note: No Fiscal note needed for Grant Funded items