HomeMy WebLinkAboutOrdinance 19923-09-2011Ordinance No. 19923 -09 -2011
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE RISK MANAGEMENT FUND IN THE AMOUNT OF
$159,619.12, FROM AVAILABLE FUNDS DUE TO SUBROGATION RECOVERY,
FOR THE PURPOSE OF TRANSFERRING SAID FUNDS TO VARIOUS FUNDS FOR
THE INSURED PROPERTY AND LIABILITY LOSSES; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; 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 Fiscal Year 2010 -2011 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Risk
Management Fund in the amount of $159,619.12, from available funds due to subrogation recovery, for
the purpose of transferring said funds to various funds for the insured property and liability losses.
SECTION 2.
That 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. 19355 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ordinances and appropriations are hereby expressly repealed.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
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
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AssistantZiV Attorney
ADOPTFD AND FFFFCTIVF: September 27, 2011
APPROPRIATION and TRANSFER
FY 2011 FE 71 Subrogation and Commercial Revenue With Recovery Due Operating Funds Sustaining A Loss
Fund Subrogation ( A) Commercial Self- Funded Insurance COMMENT
Insurance ( B) Program ( C )
General Fund $ 115,393.24
GG 01
Crime Control &
Prevention District
$ 23,171.00
GR79
Water & Sewer
$ 18,794.53
PE 45
Solid Waste Mgmt.
$ 2,260.35
PE 64
Municipal Airports Fund
PE 40
Subtotal
$ 159,619.12
Total Recovery (A +B)
$ 159,619.12
Total Self- Funded
Insurance Program
$ 6,938.77
Transfer/Appropriation
Total
$ 166,557.89
$ 6,938.77
APPROPRIATION TRANSFER.TMPLT
9/27/2011
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/27/2011 - Ordinance No. 19923
DATE: Tuesday, September 27, 2011
LOG NAME: 13RISK TRANSFER FY11
REFERENCE NO.: G -17399
SUBJECT:
Adopt Appropriation Ordinance and Transfer $166,557.89 to Various Designated Funds for Subrogation
Recovery and Self- Funded Property Losses (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Risk Management Fund by $159,619.12, from available funds due to subrogation recovery; and
2. Authorize the transfer of $166,557.89 from the Risk Management Fund to various funds as listed on
the attached table.
DISCUSSION:
Throughout the year, the Financial Management Services - Risk Management Division collects
subrogation revenue from individuals who have caused damage to City property, or from their insurance
companies. Annually, the City Council is requested to appropriate these revenues and to transfer them to
the City operating fund that has sustained the loss.
In addition, these City operating funds are entitled to be reimbursed for losses covered by the City's self -
funded insurance program administered by Risk Management. Approval of the recommendations of this
Mayor and City Council Communication includes that reimbursement for losses covered by the self- funded
insurance program.
The Financial Management Services - Risk Management Division has collected un- appropriated
subrogation revenue totaling $159,619.12. Pursuant to policy, these funds are being transferred from the
Risk Management Fund, where they were originally recorded, to the various funds sustaining the losses
as revenue. Additionally, the Municipal Airports Fund is entitled to the transfer of $6,938.77 from the City's
self- funded insurance program for losses covered by that program. These transfers total $166,557.89.
Affected funds include the General Fund, Crime Control & Prevention District Fund, Water & Sewer Fund,
Solid Waste Fund and the Municipal Airports Fund.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinance, funds will be available in the current operating
budget, as appropriated, of the Risk Management Fund.
FUND CENTERS:
Logname: 13RISK TRANSFER FYI I Page I of 2
TO Fund /Account/Centers
FE71 481142 0137100
FE71 538040 0137140
FE71 538070 0137140
GG01 476071 0901502
GR79 472071 0352100
PE45 472071 0601000
PE64 472071 0525001
PE40 472071 0551000
CERTIFICATIONS:
FROM Fund /Account/Centers
$159,619.12 FE71 538040 0137140
$115,393.24 FE71 538070 0137140
$44.225.88
$115.393.24
$23.171.00
$18,794.53
$2,260.35
$6,938.77
Submitted for City Manager's Office by-
Originating Department Head:
Additional Information Contact:
Karen Montgomery (6222)
Lena Ellis (8517)
Nancy McKenzie (7744)
$115.393.24
$51.164.65
Logname: 13RISK TRANSFER FYI 1 Page 2 of 2