ITEM TITLE:
#26-23 - Amending the 2026 City Budget by Accepting an Additional $155,197.19 in New Ambulance Service Revenue
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: Unanticipated New Revenue of $155,197.19
Unencumbered Balance: n/a
Funding Source: Supplementary Emergency Medical Transportation (SEMT) Funds passed through State of Alaska from Federal sources
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
Supplementary Emergency Medical Transportation (SEMT) is a cost-based reimbursement program. City of Valdez has submitted a cost schedule to the State of Alaska, the State receives Federal dollars and distributes to subrecipients (such as City of Valdez) based on estimated cost schedules. The State of Alaska is required to reconcile the payments at a later date and typically distributes funding conservatively, meaning the City can expect future payments in future Fiscal Years not only related to CY24, but future Calendar Year (CY) payments as well.
Staff is evaluating the optimal budgeting practice which will likely result in slight changes to future General Fund Revenue budgeting convention.