Finance Committee Agenda and Packet 2023 04 20

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LLCito yOf ITEM 3 FINANCE COMMITTEE Louisville COMMUNICATION COLORADO • SINCE 1878 SUBJECT: MARSHALL FIRE UPDATE: APRIL DATE: April 20th, 2023 PRESENTED BY: EMILY HOGAN, ASSISTANT CITY MANAGER KIMBERLY BAKER, ACCOUNTING MANAGER RYDER BAILEY, FINANCE DIRECTOR Updates Since Last Meeting: All projects are now obligated, the last two projects to obligated were Category B (Emergency Work Donated Resources) and Category Z (Management Costs), totaling $370,748. Staff has, or is in the process of, applying for two Disaster related grants, a FEMA HGMP grant for new generators and a State Wildfire Mitigation Grant, see page 5 of this item for more details. Overview: City staff continues to manage all fire administrative functions. The process in any emergency is, of course, to address any immediate issues. Once those are resolved, the next step is to work with any insurance and FEMA issues to determine possible cost reimbursements. Upon setting those projects, the next step is to begin the process of identifying all associated costs and "lessons learned" to better prepare for the future. This memo includes some preliminary information regarding the City's expenditures and reimbursements related to the Marshall Fire. This data is not comprehensive, and represents a snapshot of the current financial status of various Marshall Fire projects. FEMA Funding: The attached spreadsheet illustrates the projects FEMA has agreed they will help offset the costs. FEMA puts projects into two categories: obligated and outstanding. They have already committed — obligated —the money. At this time, all public infrastructure repairs the City intends to request FEMA reimbursement for have been submitted. All projects have been obligated. The costs and reimbursements reflected below could change. The project costs could be higher/lower than reflected once obligated, or the actual expenses for the projects that are not complete could be higher/lower than projected. 10/71