Budgeting in a Post-ARPA World

Many local governments across the United States have relied on ARPA funds (and other COVID-related financial assistance) to balance their budgets in recent years. In many cases, these one-time funds were used to pay for ongoing costs, resulting in structural budget deficits. As local governments face the expiration of ARPA funds, additional challenges have emerged, including decreasing commercial property values, rising inflation, and difficulty recruiting new employees--not to mention the threat of a recession. This panel will discuss strategies for improving fiscal sustainability and recommend steps that finance officers can take now to protect community priorities as federal relief disappears.