November 5, 2021. VLCT has produced a revenue loss calculator that uses the U.S. Department of the Treasury’s specific formula in the Interim Final Rule. We worked with Sarah Macy, a Vermont government finance expert, who modified the Government Finance Officers Association’s (GFOA) calculator to meet the needs of Vermont's municipalities and drafted user instructions. It is designed specifically for the many towns, cities, and villages throughout the state that use NEMRC.
VLCT also worked in partnership with the team at NEMRC. They are ready to assist you in using this model should you have questions or get stuck.
We hope this tool and the resources to support you in using it will bring you confidence in generating an accurate result for your community’s lost revenue calculation as it relates to your ARPA funding.