HomeMy WebLinkAboutOrdinance 15560Ordinance No. / ~~1`-.~"-'
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE INSURANCE FUND IN THE AMOUNT OF
$99,649.96 FROM AVAILABLE FUNDS DUE TO SUBROGATION AND
RECOVERY FROM COMMERCIAL INSURANCE COVERAGE, FOR THE
PURPOSE OF FUNDING INSURED PROPERTY AND `LIABILITY LOSSES;
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 2002-
2003 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Insurance Fund in the amount of $99,649.96 from available funds due to
subrogation and recovery from commercial insurance coverage, for the purpose of funding 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. 15184 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
APP OVED AST ORM AID LEGALITY:
J rs c
Assis a ity Attorney
ADOPTED AND EFFECTIVE: ~`^'"1 ~~'~~~
City of ~o~t Wo~tl~, Texas
Mb ar and council L,ammun~cAt;dn
DATE REFERENCE NUMBER LOG NAME PAGE
5/20/03 **G-13975 13FUND 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION ORDINANCE FOR THE INSURANCE FUND AND
TRANSFER AMOUNTS TO FUNDS FOR THE INSURED PROPERTY AND LIABILITY
LOSSES
RECOMMENDATION:
It is recommended that the City Council:
Adopt the attached supplemental appropriation ordinance increasing estimated receipts and
appropriations in the Insurance Fund by $99,649.96, from available funds due to subrogation and
recovery from commercial insurance coverage; and
2. Authorize the transfer of $143,920.75 from the Insurance Fund to various funds as listed on the
attached table.
DISCUSSION:
Throughout the year, the Finance -Risk Management Division collects revenue from commercial
insurance companies for insurance policies the City owns as well as subrogation revenue from
individuals who have caused damage to City property or are responsible for occupational injuries to City
employees from their insurance companies. Periodically, 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-insurance program administered by the Finance -Risk Management Division. Approval of the
recommendations of this Mayor and City Council Communication affects that reimbursement for losses
covered by the self-insurance program.
The Finance -Risk Management Division. has collected subrogation revenue totaling $99,649.96. No
un-appropriated recovery monies were received from the City's commercial insurer(s). Pursuant to
policy, these collected funds are being transferred from the Insurance Fund, where they were originally
recorded, to the various funds sustaining the losses as revenue. Additionally, the various operating
funds are entitled to the transfer of $44,270.79 from the City's self-insurance program for losses
covered by that program. These transfers total $143,920.75. Affected funds include the General Fund,
Water and Sewer Fund, Crime Control and Prevention District Fund, Municipal Golf Fund, Municipal
Airports Fund, Office Services, Engineering Fund and the Environmental Management Fund.
City of Fort ~Vo~tli, .Texas
M,'Ayar andL'aunc~l Cammun~cAtian
DATE
5/20/03 REFERENCE NUMBER
~'~G-13975 LOG NAME
13FUND PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION ORDINANCE FOR THE INSURANCE FUND AND
TRANSFER AMOUNTS TO FUNDS FOR THE INSURED PROPERTY AND LIABILITY
LOSSES
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon adoption of the attached. supplemental appropriation ordinance,
funds will be available in the current operating budget, as appropriated, of the Insurance Fund. The
transfer of funds from the Insurance Fund will be recorded as revenue in the General Fund, Water and
Sewer Fund, Crime Control and Prevention District, Municipal Golf Fund, Municipal Airports Fund,
Office Services Fund, Engineering Fund and the Environmental Management Fund.
BG:r
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
' Office by: (to)
PE45 472071 0601000 $ 4,117.58
Richard Zavala (Acting) 6183 PE39 472071 0804005 $ 975.00
Originating Department Head: PE40 472071. 0551000 $ 1,525.00
PI60 472071 0901320 $ 8,035.00
PI19 472071 0301000 $ 1,352.32
R103 472071 0521100 $ 4,071.00
PE45 472071 0701000 $ 4,117.59
FE71 481142 0137100 $ 99,649.96
GG01 472071 0139010 $103,306.03
GR79 472071 0352100 $ 16,421.23
Jim Keyes 8517 (from) APPROVED 05/20/03
FE71 538070 0137140 $143,920.75 ORDINANCE NO 15560
Additional Information Contact:
Judy Walton 8334