Finance Item/Grant Request Template
Date Submitted: 10-26-20
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
Name: Rachel Bardin
Email: Rachel.Bardin@denvergov.org
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A bill for an ordinance to close various Special Revenue Funds and authorizing cash transfers to the General Fund, the General Government Special Revenue Fund Series, and the Economic Opportunity Special Revenue Fund Series.
Transfers cash from several Special Revenue Funds to the General Fund, the General Government Fund Series, and the Economic Opportunity Special Revenue Fund Series to close SRFs that are no longer needed. The Committee approved filing this item at its meeting on 11-3-20.
body
Affected Council District(s) or citywide? Citywide
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
The Budget and Management Office performs ongoing reviews of Special Revenue Funds to identify inactive funds and take actions to close them. As a follow-up action from BMO's most recent review in 2019/2020, BMO requests authorization to close 13 Special Revenue Funds. Together, these Funds have a net balance of approximately $644,600. BMO requests to transfer approximately $694,400 from SRFs to the General Fund; to then transfer approximately $50,300 from the General ...
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