HomeMy WebLinkAboutOrdinance 15740__
Ordinance No.
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BE IT ORDAINED BY THE CITY COUNCIL OF OF •• !-
TEXAS: I
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2003-
2004 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Insurance Fund in the amount of $62,386.96 from available funds due to
subrogation and recovery from commercial insurance coverage, for the purpose of funding insured
property and liability losses.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid,
inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or
judgment shall in no way impair the remaining portions, sections, or parts of sections of this
ordinance, which said remaining provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 15636 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance
are in direct conflict with such other ordinances and appropriations, in which instance said
conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APP OVED A$ TO FORM AND LEGALITY:
Assis _ht City borne
ADOPTED AND EFFECTIVE.
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COUNCIL ACTION: Approved on 11/11/2003 - Ordinance No. 15740
DATE: Tuesday, November 11, 2003
LOG NAME: 131NSFUND REFERENCE NO.: **G-14144
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 $62,386.96 from available funds due to subrogation and
recovery from commercial insurance coverage; and
2. Authorize the transfer of $85,889.96 from the Insurance Fund to various funds as listed on the
attached table.
DISCUSSION:
Throughout the year, the Finance Department, Risk Management Division, collects revenue from
commercial insurance companies for City-owned insurance policies, and also collects subrogation revenue
from individuals who have caused damage to City property or are responsible for occupational injuries to
City employees. Periodically, the City Council is requested to appropriate these subrogation revenues from
commercial insurance coverage and to transfer them to the City operating fund that 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 Department, Risk Management Division. Approval of the
recommendations of this Mayor and Council Communication affects that reimbursement for losses covered
by the self insurance program.
The Finance Department, Risk Management Division, has collected subrogation revenue totaling
$62,386.96. No unappropriated recovery monies were received from the City's commercial
insurers. 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 $23,503-00 from the City's self-
insurance program for losses covered by that program, These transfers total $85,889,96. Affected funds
include the General Fund, Crime Control and Prevention District Fund, Water and Sewer Fund, Municipal
Golf Fund, and the Environmental Management Fund.
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 Properly and Casual-Y
Insurance Fund. The transfer of funds from the Insurance Fund will be recorded as revenue in the
General, Crime Control and Prevention District, Water and Sewer, Municipal Golf, and Environmental
Logname: 13TV;Fl 1"W)