ITEM TITLE:
#19-29 - Amending the 2019 City of Valdez Budget by Increasing Reserve Fund Revenue by $1,517,460 and Appropriating Same for Three Council-Approved Projects for Providence Valdez Medical Center
SUBMITTED BY: Brian Carlson, Finance Director
FISCAL NOTES:
Expenditure Required: $1,517,460
Unencumbered Balance: $72.2MM
Funding Source: Unrestricted general fund balance
RECOMMENDATION:
Approve resolution to appropriate funds for approved hospital projects.
SUMMARY STATEMENT:
• This resolution concludes funding for approved capital and maintenance projects.
• Providence Valdez Medical Center (PVMC) forwards project requests to city staff in early spring, along with all other city project stakeholders.
o PVMC projects are funded via cash transfer from PVMC to City, and are then procured, managed, and accounted for by City staff. Funding for PVMC projects is not commingled with other city project funds.
o Staff withheld these three projects from the May 8 resolution pending explicit agreement from PVMC staff regarding cash transfer to City in 2019.
• The three PVMC projects were approved by Council during its recent projects prioritization work sessions. They are:
o Long-Term Care Door / Firewall: $227,000
o Infection Control Enhancement: $185,435
o Copper Piping Replacement: $1,105,025
• Capital Facilities staff will be present to field project-specific questions.
• Attachments: Resolution 2019 PVMC Projects