title
A resolution appropriating to a certain account for the benefit of the Hospital Authority in the amount of Ten Million Dollars ($10,000,000).
body
WHEREAS, the Metropolitan Council desires to appropriate to a certain account for the benefit of the Hospital Authority (Nashville General Hospital) in the amount of Ten Million Dollars ($10,000,000) from the undesignated fund balance of the GSD General Fund.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1: That the following amount from the Undesignated Fund Balance of the GSD General Fund is hereby appropriated:
|
PRIMARY EXPENDITURE ACCOUNT # |
ACCOUNT DESCRIPTION |
AMOUNT |
|
01101426.502613 |
Subsidy Hospital Authority |
$10,000,000 |
|
|
TOTAL |
$10,000,000 |
Section 2: That the appropriation in Section 1 is funded from the following source:
|
REVENUE ACCOUNT # |
ACCOUNT DESCRIPTION |
AMOUNT |
|
10101.335000 |
GSD General Fund - Undesignated Fund Balance |
$10,000,000 |
|
|
TOTAL |
$10,000,000 |
Section 3: As an express condition of the Hospital Authority receiving any part of the appropriation set forth in Section 1, the following timeline and conditions for each Operating Disbursement Request shall apply:
1. Each Operating Disbursement Request shall be delivered to the Metropolitan Director of Finance at least 5 business days prior to requested date of funding, and additionally, shall be certified by the acting chief executive officer and the interim chief financial officer of the Nashville General Hospital as well as the board chair and finance committee chair of the Hospital Authority.
2. Each Operating Disbursement Request will be accompanied by such detailed supporting documentation and analysis as determined by and to the satisfaction of the Metropolitan Director of Finance, including, but not limited to: (a) the most recent month end budget to actual income statement; (b) the most recent cash flow statement showing each actual month beginning July 1, 2024 and showing each projected month through June 30, 2025; (c) the most recent month’s balance sheet; (d) the most recent bank statements or other documentation from the Hospital Authority’s banks showing detailed deposit and withdrawal transactions; and (e) aging reports with explanations for any amounts in dispute for accounts receivable, accounts payable, and any recorded or unrecorded liabilities not included in accounts payable.
Section 4: That this resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution would appropriate a total of $10 million from the undesignated fund balance of the General Fund of the General Services District to the Hospital Authority.
The resolution further provides the conditions for the disbursement of these funds to the Hospital Authority. At least five business days prior to the requested date of funding, an Operating Disbursement Request must be delivered to the Metropolitan Director of Finance. This request must be certified by the acting chief executive officer and the interim chief finance officer of Nashville General Hospital as well as the board chair and finance committee chair of the Hospital Authority. In addition, each Operating Disbursement Request must be accompanied by detailed supporting documentation and analysis as determined by and to the satisfaction of the Metropolitan Director of Finance. This documentation must include, but is not limited to, (a) the most recent month end budget to actual income statement; (b) the most recent cash flow statement showing each actual month beginning July 1, 2024 and showing each projected month through June 30, 2025; (c) the most recent month’s balance sheet; (d) the most recent bank statements or other documentation from the Hospital Authority’s banks showing detailed deposit and withdrawal transactions; and (e) aging reports with explanations for any amounts in dispute for accounts receivable, accounts payable, and any recorded or unrecorded liabilities not included in accounts payable.