HomeMy WebLinkAboutOrdinance 11107F
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ORDINANCE NO ,~L~"_
AN ORDINANCE APPROPRIATING
$565,623 00 TO THE INSURANCE FUND,
INCREASING ESTIMATED REVENUES BY
$75,000 00 AND DECREASING THE
UNRESERVED, UNDESIGNATED FUND
BALANCE BY $490,623 00 FOR THE PURPOSE
OF PROVIDING SUFFICIENT FUNDS FOR
EXPECTED CLAIMS, LAWSUITS AND
EXPENSES FOR THE BALANCE OF THE
FISCAL YEAR, PROVIDING FOR A
SEVERABILITY CLAUSE, MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES AND REPEALING ALL PRIOR
ORDINANCES IN CONFLICT HEREWITH,
PROVIDING FOR ENGROSSMENT AND
ENROLLMENT, AND PROVIDING AN
EFFECTIVE DATE
BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
SECTION 1
That in addition to those amounts allocated to the various City
departments for the Fiscal Year 1991-92 and in the Budget of the City
Manager, there shall also be increased appropriations in the
Insurance Fund in the amount of $565,623 00, increasing estimated
revenues by $75,OOt` 00, thereby decreasing the unrestricted,
undesignated Fund Balance by $490,623 00 for the purpose of
providing sufficient funds for expected claims, lawsuits and expenses
for the balance of the fi:;cal year
SECTION 2
Should any portion, section or part of a section of this ordinance be
declared invalid, inoperative or void for any reason by a court of
competent jurisdiction, such decision, opinion or judgment shall in
no way impair the remaining portions, sections, or parts of sections of
this ordinance, which said remaining provisions shall be and remain
in full force and effect.
., ,~
SECTION 3
That this ordinance shall be cumulative of Ordinance No 10892 and
all other ordinances and appropriations amending the same except in
those instances where the provisions of this ordinance are in direct
conflict with such other ordinances and appropriations, in which
instance said conflicting provisions of said prior ordinances and
appropriations are hereby expressly repealed
SECTION 4
The City Secretary of the City of Fort Worth is hereby directed to
engross and enroll this ordinance by copying the caption and effective
date into the minutes of the City Council and by filing this ordinance
in the ordinance records of the City of Fort Worth.
SECTION 5
This ordinance shall take effect and be in full force and effect from
and after the date of its passage, and it is so ordained
APPROVED AS TO FORM AND LEGALITY
Date.
Adopted ~ ~` ~ "'
Effective __ (~ ~ ~''
MASTER FILEr,A
ACCOUNTING~2 ~ ~
$RANSP6RTATtaN~PUt3ttC w~iRK3'o Cam, of Fort worth, Texas
HATER ADMINI.'(P°rnit~a or and C;ou~-cil Ca-mmunicati~~n
RISK MANAGEM~ y
,Lr,w~i
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DATE
06/09/92 REFEREN E NUMBER
**G-9677 L NAME
15FUND71 PA E
1 of 1
SUBJECT SUPPLEMENTAL APPROPRIATION IN FUND 71 - INSURANCE FUND
RECOMMENDATION:
It is recommended that the City Council adopt the attached Supplemental Appropriations
Ordinance to the Insurance Fund:
1 Increasing estimated revenues by $75,000.00, and
2. Reducing by $490,623.00 the Undesignated, Unreserved Fund Balance in the Insurance
Fund, and
3. Increasing appropriations in the Insurance Fund by $565,623.00.
DISCUSSION:
Expenditures to date and anticipated expenditures through the rest of this fiscal year
greatly exceed the amount of funds thus far appropriated in the Insurance Fund for
claims and lawsuits. The City has settled 106 claims totalling $485,918.00 and has
settled or had judgements rendered in 34 lawsuits, totalling $998,713.00 through April
30, 1992. In order to provide sufficient funds to finance expected claims, lawsuits,
and expenses for the balance of this fiscal year, an additional $490,623.00 is
required.
Budgeted monies from this fund have also been expended to finance the repairs
associated with the electrical panel fire at Fort Worth Meacham Airport. The Risk
Management Department has received $75,000.00 of an expected $77,560.00 recovery from
the commercial insurer of this loss These funds should be appropriated to the
Insurance Fund to cover the cost of the repairs.
FISCAL INFORMATION/CERTIFICATION.
The Director of Fiscal Services certifies that upon adoption of the attached
supplemental appropriations ordinance, the funds for these claims, lawsuits and
expenses will be available in the current operating budget of the I surance Fund. The
OO~after
154
O71
~$8
ill b
.
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e
,
unreserved, undesignated fund balance of the Insurance Fund w
this transaction.
Su~gi~ted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by to
FE71 481082 0157100 75,000 0 I~
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QPPR
Charles Boswell 8500 FE71 534040 0157110 4,200 0 ~l
Originating Department Head FE71 534050 0157120 331,423 0 ~~~~ ~~~~~~~
FE71 534060 0157120 155,000 0 P1.S ts~.E~:Di:.D
FE71 534210 0157140 75,000 0
~~;~ ~ ~~~~
4
Susan Bulla 8513 from
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For Additional Information City aocret~.ry of the
Contact ity of Fa y`darth, Tek _
Susan Bulla 8513
Adopted uroin~~ce f~c~,'
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