HomeMy WebLinkAboutOrdinance 17317-12-2006Ordinance No. 1 731 7-1 2-2006
AN ORDINANCE INCREASING ESTIMATED RECi=1PTS AND
APPROPRIATIONS 1N THE RISK MANAGEMENT FUND IN THE AMOUNT OF
$250,000 1=ROM A REFUND FROM THE SPECIALLY FUNDED CAPITAL
PROJECTS FUND; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR 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 2006-
2007 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Risk Management l=and in the amount ofi $250,000 from a refund from the
Specially Funded Capital Projects Fund.
SECTION 2.
That should any portion, section ar 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, ar parts of sections of this
ardinance, which said remaining provisions shall be and remain in full force and effect.
SECTION 3.
That this ardinance shall he cumulative ofi Ordinance Na. 17142 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
APPR D T RM AND LEGALITY:
}~ City Attorney
e~~~
ADOPTED AND EFFECTIVE: December 19 200fi
pity ®f ~®~ VI/®~tf~, l°~xas
COUNCIL ACTION: Approved on 12119120(16 -Ordinance No. 17317-12-2006
DATE: Tuesday, December 19, 20D6
LOCa NAME: 13RISK TRANSFER
REFERENCE NO.: **G-16529
SUBJECT:
Transfer Revenue from the Specially Funded Capital Projects Fund to the Risk Management Fund
and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to transfer $25D,D00 from the Specially Funded Capital Projects Fund, to the
Risk Management Fund; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and apprapriations in the Risk
Management Fund.
DISCUSSION:
Each year funds are appropriated as revenue in the Risk Management Fund to pay for expenditures
incurred for claims that are covered by the City's commercial insurance coverage or fall within the policy's
deductible in effect at the time of the incurred loss.
The Central Library roof sustained damage due to high winds the second week of May 2D06. The adjuster
for the insuring company estimated the damage at $29D,ODD. On May 23, 2DD6, the City Council {M&C G~
152D4) authorized the transfer of the commercial property policy's deductible of $250,DDD from the Risk
Management Fund to the Specially Funded Capital Projects Fund.
l=ollowing several months of negntiatinns with the roofing material manufacturer, it was determined the
repairs were covered by warranty, therefore, it was unnecessary for the City to pursue its claim with the
insurance carrier and the deductible amount should be refunded back to the Risk Management Fund.
FISCAL iNFORMATiON1CERTIFICATION:
The Finance Director certifies that funds required for this transfer are available in the Specially Funded
Projects Fund, as appropriated by the previous transfer from the Risk Management Fund.
TO Fundl~c®untlCenters FROM FundlAccountlCenters
FE71 472071 013714D X250.000.00 GC35 53807D 020030061260 250 000.00
Submitted for Cit Mans er's Office b Karen Montgomery {6222)
Orin"rnating Department Head: Richard Zavala (Acting} (8517}
Additional Information Contact: Sue Haupt {7761)
Logname: BRISK TRANSFER Page 1 of I