Finance Item/Grant Request Template
Date Submitted: 11-13-18
Requesting Agency: Finance
Division:
Subject Matter Expert:
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Name: Brandon Gainey and Jackson Brockway |
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Email: brandon.gainey@denvergov.org; and Jackson.brockway@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 amending Ordinance No. 144 in the Series of 2011 to expand allowable revenues to the “Energy Conservation Capital Projects” Fund, making a rescission from the General Services General Fund Appropriation, and transferring cash to and making an appropriation in the “Energy Conservation Capital Projects” Fund.
Amends Ordinance No. 0144 in Series 2011, establishing the Energy Conservation Capital Projects Fund, to expand the scope of allowable revenues to the Fund; and approves rescinding $1,000,000 from the General Services General Fund appropriation, transferring cash and making appropriations to the Energy Conservation Capital Projects Fund to fund additional energy conservation projects, citywide. The Committee approved filing this item at its meeting on 11-20-18.
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.
This bill request amends the Ordinance that established Fund No. 38297, the Energy Conservation Capital Projects Fund, to also allow the Fund to accept transfers from other City funds as well as other sources of revenue. The original ordinance language only listed “rebates and project incomes or sources of private receipts received” as allowable revenues. Expanding allowable revenues will create additional opportunities to invest in energy efficiency projects.
Additionally, this bill requests to rescind $1,000,000 from the General Fund General Services Appropriation (Accounting No. 01010-3000000) to transfer $1,000,000 to the Energy Conservation Capital Projects Fund (Accounting No. 31050-5011000-PP005) to fund additional energy conservation projects through an Energy Services Contract (ESCO). This will enable the City and County of Denver to lower its energy load requirements, therefore reducing the amount of renewable electricity conversion needed to meet the goal by 2025.
Expanding the scope of allowable revenues of Fund 38297 to open the door for this General Fund transfer will enable savings in General Services’ utilities budget, generated in part from investments in energy conservation, to be re-invested in additional projects that will generate reduced energy costs and usage across the city. Reallocating energy efficiency savings toward projects to promote additional efficiencies is considered best practices for energy management.
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other):
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: