Imagine you received a large sum of money with certain restrictions on how you could spend it. In addition, substantial input came from public officials and the general public on how they thought these funds should be put to work. I doubt that anyone who was a financial fiduciary would spend a thin dime without having a strategy.

That is what the U.S. Treasury is requesting public entities to do with the recently distributed American Rescue Plan (ARP) funds: Develop a solid spending strategy.

A prime reason Washington arranged for two separate ARP payments over 2021 and 2022, with completion of such spending by the end of 2024, was to give entities sufficient time to plan and strategize around the best way to put these ARP funds to work.

Since time is on your side, please use it wisely.

By carefully planning on best uses of these funds, you’ll not only greatly impact local communities now—you’ll benefit them for generations to come.