Arizona has a stabilized budget even as the state invested in resources to fight the effects of the COVID-19 pandemic, said a recent primer.
The state has, through help from the Coronavirus Relief Fund -- part of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act -- supported needy Arizonans, protected public health, extended and enhanced “the social safety net” and stabilized its budget, said the Nov. 27 primer.
The CARES Act is an over $2 trillion economic relief package in which Arizona received over $2.8 billion, said the website of the U.S. Department of the Treasury. The Governor’s Office of Doug Ducey was allocated over $1.8 billion of the funds in which to distribute, said the primer.
The primer includes a breakdown of the Governor’s Office’s Coronavirus Relief Fund allocations, including “$11 million to support economic recovery efforts, including support for small businesses and business recruitment.”
“Arizona is in a stable position, ending the last fiscal year with a $372 million cash carry forward,” the primer said.
“By utilizing CARES dollars to support public health and public safety, Arizona has avoided having to make any budget reductions to critical programs, particularly K-12 education and the social safety net. In fact, Arizona has used some of its CARES dollars to ADD to K-12 education.”
Arizona “still has money in the bank,” the primer said because it “took a very responsible and cautious approach with the dollars.”
“Even with Congress refusing to act and do its job, Arizona has additional resources to assist through this second wave of COVID-19,” the primer said. “The recent announcement of $25 million for our hospitals speaks to the need for additional resources through the end of the year.
Arizona Gov. Doug Ducey directed $25 million of funds from the Coronavirus Relief Fund to increase hospital staffing and “pay for higher staff costs,” said a Nov. 18 press release announcing the action.
The primer details several allocations, including those from the Crisis Contingency and Safety Net Fund that included “$10 million for rent and mortgage relief aid to small businesses administered by Local First Arizona;” and “$10 million for the Rental Property Owners Preservation Fund, which provides funding to rental property owners experiencing rental income losses.”