ITEM TITLE:
Approval of Amendment to Providence Valdez Medical Center 2025 Capital Projects Budget in the Amount of $400,000
SUBMITTED BY: Casey Dschaak, Acting Finance Director
FISCAL NOTES:
Expenditure Required: $400,000
Unencumbered Balance: $7.8MM
Funding Source: PVMC Enterprise Fund
RECOMMENDATION:
Review and approve or provide direction to Providence Management
SUMMARY STATEMENT:
In addition to current capital projects approved by the City Council on November 6th, 2024 PVMC is requesting $400,000 for the Air Treatment System Replacement. This project was approved in FY22 with the City’s Capital Project plan at an estimated cost of $350,000, though not formally appropriated. Providence now manages all hospital facility Capital Projects, therefore this project is being requested in addition to previously approved Capital Projects approved on November 6th (below)
LTC Expansion $7,476,667
Emergency Room $568,000
Air Treatment System Replacement $400,000 (Added Project)
Costs related to the project have escalated since FY22 ($350,000). PVMC requests the amount of $400,000 to fund the current estimated cost of this project.
The Providence Valdez Medical Center (PVMC) Capital Projects Budget includes no cash contributions from the City. The funding source for PVMC capital projects is the PVMC Enterprise Fund derived from accumulated hospital operating surplus.