Grants, Reimbursements, and Outside Funding

The City of Bondurant has a policy to seek all grants, reimbursements, and outside funding for major projects, program initiatives, or unexpected expenses, as is possible within the City’s budgetary ability to meet any revenue matching required. The City will proactively seek funding sources on a regular basis. The City accounts for outside funding separately from internal funding to provide clarity and highlight external investment into City activities. The City will comply with all reporting requirements and terms levied by external sources.

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It is important to recognize, grants often come with specialized requirements including but not limited to the following.

• Fund Matching
• Specific Compliance Rules
• Monitoring of Other Parties
• Specialized Reporting
• Additionally Auditing

As a condition of the grant or politically, the City may be required to continue funding programs and assets after the grant funding expires. The City requires certain steps to be taken before applying for or accepting grants to maximize the benefits of grants while minimizing their risks.  The Finance Department prepares analysis and reporting and reviews other Department’s grant proposals to ensure the City can meet requirements of the fund awards while enjoying the benefit of funding that doesn’t compromise the Council’s vision of City services provided. 

Occasionally the City will face challenges from disasters.  By the nature of these events, they happen with little warning and can be very costly.  With that in mind, the city is a part of the Polk County Emergency Management Commission and has adopted its plan for emergency response.  As part of the Finance Department’s responsibility in these events, the department maintains schedules of all the City’s assets and values, meets annual and as need with the city’s insurance advisor to ensure appropriate coverage, stores original significant documents in an offsite lockbox, and maintains accounting funds to record revenues and expenditures for each event.   Some events will be declared national disasters and the Finance Department will collaborate with Federal and State agents to get reimbursements of available aid.  The City requests full reimbursement of all costs associated with each disaster from FEMA.  Of those requested funds, FEMA will determine what is eligible for reimbursement.  For the above list, the column titled Best Available Cost represents the City’s expenditures deemed eligible, not necessarily the full costs the City incurred.  FEMA reimburses the eligible expenditures at 75%, the column titled Best Available Federal Share Cost represents that amount. For some disasters, other funds are available to cover the FEMA deemed ineligible expenditures and the remaining 25% of the eligible expendiures.  The Finance Department works with those other agencies by providing source documentation and ensuring fund reimbursement requirements are met.