Finance Item/Grant Request Template
Date Submitted: 06-27-17
Requesting Agency: Finance
Division:
§ Name: Ray Sibley/Andrew Marzo
§ Phone: 720-913-3349/720-913-5539
§ Email: Raymond.Sibley@denvergov.org Andrew.Marzo@Denvergov.org <mailto:Raymond.Sibley@denvergov.org%20%20%20Andrew.Marzo@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 establishing a new fund in the General Government Special Revenue Fund for the “Firefighter Heart Benefit” program.
Establishes the Firefighter Heart Benefit Program Special Revenue Fund for firefighters who sustain certain identified heart and circulatory malfunctions within 48 hours of a defined work event pursuant to Colorado Senate Bill 14-172. The Committee approved filing this bill by consent on 7-4-17.
body
Affected Council District(s) or citywide? Citywide
Executive Summary with Rationale and Impact:
Senate Bill 14-172 was passed and signed into law by the governor in 2014 to create the Firefighter Heart Benefit Program and became effective on January 1, 2015.
This Bill, which was backed by Colorado Firefighters, and the Colorado Fire Chiefs association created a benefit program for firefighters who sustain certain identified heart and circulatory malfunctions within 48 hours of a defined work event. The Act provided specified payments to eligible firefighters based on the nature and extent of their illness. Funding was appropriated for this program, and the Firefighter Heart and Circulatory Malfunction Benefits Fund was created. This fund is administered by the Department of Local Affairs (DOLA) at the State level.
Program reimbursements to public entities are based on the actual number of eligible firefighters employed by the entity and the actual cost or projected rate needed to cover future payments of benefits. The Risk Management team has been accounting for the funds in the Worker’s Compensation Internal Service Fund since 2015, but a separate fund is needed for purposes of transparency and to give the Risk Management team a more effective way to track revenue, expenditures, and earnings.
The requested new special revenue fund (SRF) will be named the Firefighter Heart Benefit Program (11864-2550000), and will be set-up as a non-lapsing, cash-basis fund with the main sources of program revenue being payments from the State of Colorado, any interest accumulated from the fund, and/or any other sources of revenue. Upon creation, a transfer of $414,465 will be made from the Workers Compensation ISF (65100-2550000) into the newly established Firefighter Heart Benefit Program SRF. This amount is the accumulation of annual transfers from the state of Colorado since the program became effective on January 1, 2015
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other): Fund Creation
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: