Title
CDBG Expenditure Status Report
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HUD requires CDBG recipients to keep no more than a 1.5:1 ratio of their allocation on hand at any time. Fulton County has consistently met this requirement, but has been steadily creeping up to the limit in the past year and is now above the ratio. In a meeting with HUD on Tuesday, October 27, the County was told to bring their expenditure level up so that their accounts meet the 1.5 requirement by November 1 or face sanctions.
As a result, Fulton County program representatives contacted Roswell about our expenditure rates. On October 28, Alice Wakefield and Stefanie Dye spoke with representatives of the Fulton County CDBG program in a conference call concerning timely spending of CDBG funding. The City currently has over $1.4 million of unexpended CDBG funding. County staff requests that Roswell come up with approximately $400,000 in spending that can occur within the next 30 days (preferably) or at least a solid plan for expending this amount within 60-90 days.
The County requested that Roswell send them a letter outlining our plans for expending funds. The letter to Troy White, Fulton County Community Development Director, is attached for your review. In it, the City responds that Georgia Power will invoice $360,000 in expenses the week of November 28th with $100,000 more to be invoiced during construction. AT&T is also being contacted to see if they can invoice some of their $200,000 budgeted expenses for utility relocation.