Finance Item/Grant Request Template
Date Submitted: 2/7/22
Requesting Agency: Finance
Division: BMO
Subject Matter Expert Name: Kathryn Mortenson
Email Address: kathryn.mortensen@denvergov.org
Phone Number:
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 making an appropriation and a cash transfer in the Wastewater Management Enterprise Fund Series.
Approves an appropriation in and a cash transfer from the Storm Operations Fund (72300) to the Storm Bond Payments Fund (72901) for the 2022 principal and interest payment for storm drainage facilities. The Committee approved filing this item at its meeting on 2-15-22.
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 transfer occurs annually and is typically approved through an appropriated transfer in the long bill each year. The 2022 budget long bill contains an appropriated transfer amount of $8,700,000, and this additional appropriation of $7,991,425 increases the total transfer to match the full scheduled bond payment required for 2022.
Proceeds from the 2002 bonds were used to finance certain projects identified in the Enterprise’s Six-Year Capital Improvement Plan for its Storm Drainage Facilities. Proceeds from the Series 2016 Bonds were used by the City to finance improvements to the Storm Drainage Facilities of the City, including a portion of the construction of the Platte to Park Hill Project. And additional bonds were issued in 2018 for the purpose of (a) financing certain storm drainage and sanitary sewerage facilities; and (b) paying the costs of issuance of the Bonds.
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other): Appropriation and cash transfer
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: