HomeMy WebLinkAboutOrdinance 16609-09-2005Ordinance No ~' Q -~v~
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE INSURANCE FUND IN THE AMOUNT OF $193,935
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 2004-
2005 in the Budget of the City Manager there shall also be increased' estimated receipts and
appropriations in the Insurance Fund in the amount of $193 935 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. 16061 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed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
APPRO AS TO F M D LEGA TY
Assistant City Attorney
ADOPTED AND EFFECTIVE. ~ T~,~j,dr'' 02_`~ ~C.~`~
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 9/27/2005 Ordinance No. 16609-09-2005
DATE Tuesday September 27 2005
LOG NAME 13RISK FUND
REFERENCE NO *G-14931
SUBJECT
Adopt Appropriation Ordinance for the Risk Management Fund and Transfer Amounts to Operating
Funds for the Insured Property and Liability Losses
RECOMMENDATION
It is recommended that the City Council
1 Adopt an appropriation ordinance increasing estimated receipts and appropriations in the Risk
Management Fund by $193 935 00 from available funds due to subrogation recovery and
2. Authorize the transfer of $193 935 00 from the Risk Management Fund to various funds as listed on
the attached table
DISCUSSION
The purpose of this Mayor & Council Communication is to appropriate subrogation revenue collected during
the year and transfer it to the City operating fund that sustained the loss. Throughout the year the Finance
Department, Risk Management Division collects subrogation revenue from individuals or their insurance
companies who have caused damage to City property or are responsible for occupational injuries to City
employees.
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 above
recommendations will authorize that reimbursement for losses covered by the self-insurance program
The Finance Department, Risk Management Division has collected unappropriated subrogation revenue
totaling $156 546 00 No unappropriated money was collected from commercial insurance policies owned
by the City 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. Additionally the various operating
funds are entitled to the transfer of $37 389 00 from the City's self-insurance program for losses covered by
that program. These transfers total $193 935 00 Operating funds receiving revenue include the General
Fund Crime Control & Prevention District Fund Water & Sewer Fund Solid Waste Management Fund
Municipal Golf Fund, Information Systems Fund and the Environmental Management Fund
Logname• 13RISK FUND Page 1 of 2
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 Risk Management Fund the
transfer of funds from the Risk Management Fund will be recorded as revenue in the General, Crime
Control & Prevention District, Water & Sewer Solid Waste Management, Municipal Golf Information
Systems and Environmental Management Funds.
TO Fund/Account/Centers
GG01 472071 0150000 $110.288.00
GR79 472071 0352100 $36.511.00
PE45 472071 0601000 $24.785.00
PE39 472071 0804005 8 7$ .92.00
P168 472071 0041000 300.00
R103 472071 0521100 6115.00
FE71 481142 0137100 0.00
FE71 538070 0137140 0.00
PE64 472071 0525001 7144.00
FROM Fund/Account/Centers
FE71 538070 0137140 $193.935.00
Submitted for City Manager's Office b~ Richard Zavala (6222)
Originating Department Head: Jim Keyes (8517)
Additions{ Information Contact: Sue Haupt (7761)
Logname 13RISK FUND Page 2 of 2