ROYAL OAK, Mich. (Michigan News Source) – After enjoying an unprecedented influx of federal tax dollars, the city of Royal Oak has reached the “fiscal cliff” that many municipalities have discussed once the pandemic money ran out.
The city’s audited budget for FY 2024 was recently released and it stated as of June 2024, the $28.1 million in American Rescue Plan Act money had all been spent.
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The deadline to obligate ARPA money to projects is the end of this month. ARPA money must be spent by the end of 2026.
City revenues have increased 33% since the pandemic first hit municipalities in 2020. The city received $622,073 in federal grants in 2018. That increased to $17.2 million in 2023 and $12 million in 2024.
Overall, city revenues increased from $84.4 million in 2019 to $112.1 million in 2024.
The city’s employment has increased 10.4% from 335 full-time positions in 2019 to 370 in 2024 while the city’s population has dropped 2% from 59,461 in 2019 to 58,053.
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