Through legislation, the Foothills RETAC, along with the other 10 RETACs throughout Colorado, contract with the Colorado Department of Health and Environment (CDPHE) for services.
Each year a set of “deliverables” are included in the contract for the RETAC to perform. These include things such as MCI planning, financial reports, and completion of our Biennial Plan.
Each of the 11 RETACs has a unique set of financial circumstances. Some of the RETACs use a “fiscal agent” such as a county to take care of their finances. Several have tax-exempt status through 501c3 IRS status.
After looking at several possibilities, the Foothills RETAC decided upon “115 Government Instrumentality status”. This is a very specific section of the IRS code that allows us to perform as a non-profit organization as a government appointed body.
The financial documents of the RETACs are open to the public, and as such, are linked to this website.
FRETAC Executive/Finance Committee
The FRETAC Finance committee members are our FRETAC Officers. These include the FRETAC Chair, Vice Chair, and Treasurer.
Each July, the full FRETAC board approves our final budget for the coming fiscal year.
FRETAC members and RETAC participants are given a financial report at each meeting.
The RETAC operates on a base yearly contract amount of a total of $150,000. This is the contracted amount we receive from CDPHE for our deliverables. We have also received funding from other sources over the years. These have included grants that were specific to MCI, Trauma caches, AEDs, and a needs assessment. Therefore, our annual budget will change slightly with those additions. This year’s budget for FY-14 is linked to this page.
We have dedicated $50,000 toward a mini-grant process that the RETAC oversees. Other obligations that the RETAC budgets for include Injury Prevention, Data Collection, and MCI activities.
We are always looking for other areas of funding because of the pressing needs of the EMTS community.
Please feel free to contact us with any other avenues for funding that we might be able to use for our regional endeavors.