Established in October 2004 by Resolution 05-128, the Telshor Fund was created using the net proceeds of a 40-year lease with Memorial Medical Center. The net proceeds to the City were $26,083,373, and additional escrow funds were received in March 2019 in the amount of $4,199,501. The resulting total of fund balance was $30,272,874, plus investment income, minus spending from the fund.
A moratorium that was initially placed on the use of the fund was later lifted by Resolution 08-112 to fund health-related public services with long term preservation of the fund intact.
Resolution 14-105 adopted a new guide and application process developed by the Health and Human Services Advisory committee to fund local non-profits for health care services.
Community Impact
The use money from the Telshor fund has resulted in great impacts to our community including more than 100,000 persons being served in fiscal year 2022.
- The Boys & Girls Club has programs that now save families about $1.5 million per year in childcare expenses and has a high impact to youth development.
- La Pinon’s Sexual Assault Nurse Examiner (SANE) performed about 300 exams between 2019 and 2021, and the organization has a new building to expand child abuse treatment programs and domestic violence exams because of funding.
- El Crucero and My Friends Place has long term tenancy support for families and critical response to urgent and previously unmet community needs.
- Casa de Perigrinos now has expanded programming for food rescue and mobile pantries.
- The Roadrunner Food Bank’s Childhood Hunger Initiative has been able to pass along a $1.2 million dollar cost savings to families and Senior hunger programs have found a savings of more than $344,000 to families.
- The 3rd District Court Veterans Treatment Court 2018 Pilot program has since expanded to provide substance abuse treatment, and mental and behavioral health counseling services to reduce recidivism and divert veterans and service members from the criminal justice system.
Health Care Services MMC Lease Fund (2700)
This fund accounts for the receipt of proceeds from a lease with Memorial Medical Center, Inc.; pursuant to the terms of the lease, funds must be used for health care services in the city. The lease was approved by Ordinance 1655 in 1998. The graph below shows expenditures by type (operating/capital/transfers) of the fund.
Telshor Facility Fund (2705)
This fund accounts for the proceeds of the sale of Memorial Medical Center. City Council has restricted the use of lease proceeds to fund health related programs and health related capital projects. The graph below shows transfers from the Telshor Facility Fund to various other funds of the City.
