ITEM TITLE:
#22-35 - Amending the 2022 City Budget by Recognizing $55,100 of Additional Revenues from Providence Valdez Medical Center for the Valdez Childcare Needs Assessment, and Appropriating Expenditures for the Same
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $55,100
Unencumbered Balance: $55,100
Funding Source: Providence Valdez Medical Center (PVMC) Fund
RECOMMENDATION:
Approve
SUMMARY STATEMENT:
• Pursuant to Comprehensive Plan Priority 5.1.C: “Continue to assess and fund community service organization annual funding based on allocation of available grant funding.”
• Valdez Childcare Needs Assessment: $55,100
o Funding comes from PVMC Fund, largely from accumulated profits
§ PVMC Fund: $54,600
§ All Alaska Pediatric Partnership: $500
• Authorization for a cash transfer from PVMC to City of Valdez, as City personnel will manage the contract
• Providence Budget is managed separately, this reflects an amendment to the approved 2022 Providence Budget, reviewed and approved by Providence Valdez Director and City Manager
• City of Valdez PVMC Fund currently has $8.6MM available reserve funds in excess of the minimum set forth in the Providence Management and Operating Agreement