ITEM TITLE:
Approval of Providence Valdez Medical Center Projects Funding Requests
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $1,496,000
Unencumbered Balance: $8MM
Funding Source: Providence Valdez Medical Center unassigned fund balance
RECOMMENDATION:
approve
SUMMARY STATEMENT:
• This new business item requests explicit council approval for projects itemized in the related attachment under “providence-managed projects” (highlighted).
• This agenda item reflect projects to be funded and overseen by PVMC. They will not be on the City’s books, though there will likely be limited involvement from Capital Facilities staff.
• Council approved the PVMC 2021 budget in October of 2020. This new business item revises that budget.
• Funding requests total $1,496,000. This is comprised of:
o Three projects previously on the City’s books ($1,321,000), to be transferred to PVMC oversight
o Two new projects ($175,000)
• The separate budget resolution on the agenda, “providence projects” budget resolution, reconciles all City/PVMC projects funding, including remittances to PVMC from the City, and transfers of excess funds back to General Fund.