Cities across the country are receiving unprecedented levels of flexible funds through federal legislation to help support their recovery from the economic impacts of the COVID-19 pandemic. For local leaders to ensure these dollars advance equity within their cities rather than reinforcing existing inequities, they must align their investments with community priorities and ensure that the voices of those who have been most harmed by historic patterns of inequity and exclusion are included in the process. This fact sheet assesses the extent to which Memphis and Shelby County’s allocations align with community goals as established in community-based equity plans. We found that Memphis and Shelby County's recovery allocations include a small percentage of investments aligned with the community priorities of supporting youth and connecting communities, and to a lesser extent housing, but the allocations do not generally include arts and culture.