HomeMy WebLinkAboutOrdinance 16160Ordinance No ~` `~'~
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE PROPERTY AND CASUALTY INSURANCE FUND
IN THE AMOUNT OF $233,245.86 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 2003-
2004 in the Budget of the City Manager there shall also be increased estimated receipts and
appropriations in the Property and Casualty Insurance Fund in the amount of $233,245.86 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
A . D AS TO FORM AND LEGALITY
istan City Attorney
ADOPTED AND EFFECTIVE.
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 10/12/2004 Ordinance No 16160
DATE Tuesday October 12 2004
LOG NAME. 131NSFUND04
REFERENCE NO *G-14535
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•
1 Adopt the attached supplemental appropriation ordinance increasing estimated receipts and
appropriations in the Property and Casualty Insurance Fund by $233 245 86 for Fiscal Year 2004 from
available funds due to subrogation and recovery from commercial insurance coverage and
2. Authorize the transfer of $280 597 81 from the Property and Casualty Insurance Fund FE71 to
various funds fior Fiscal Year 2004 as listed an the attached table
DISCUSSION
Throughout the year the Risk Management Division collects revenue from commercial insurance
companies for insurance policies owned by the City Subrogation revenue is also collected from individuals
and/or their insurance company for damages to City property or occupational injuries sustained by City
employees when the individual or insurance company is responsible Annually the City Council is asked to
appropriate these revenues 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-
insurarice program. Approval of the above recommendations permits the reimbursement for losses covered
by the self-insurance program
The Risk Management Division has collected subrogation revenue totaling $185 745 86 and has recovered
$47 500 00 from the City's commercial insurer(s) Pursuant to policy these collected funds are being
transferred from the Property and Casualty Insurance Fund where they were originally recorded to
the funds sustaining the losses as revenue Additionally the affected operating funds are entitled to the
transfer of $47 351 95 frem the City's self-insurance program for losses covered by that program These
transfers total $280 597 81 Affected funds include the General Fund Crime Control and Prevention District
Fund Water & Sewer Fund Municipal Golf Fund Equipment Services Fund Engineering Services
Fund Environmental Management Fund and the Municipal Airports Fund
FISCAL {NFORMATIONICERTIFICATION
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 Property and Casualty
Insurance Fund The transfer of funds from the Property and Casualty Insurance Fund will be recorded as
revenue in the General Fund Crime Control and Prevention District Fund Water & Sewer Fund Municipal
Logname• 13INSFUND04 Pase 1 of 2
Golf Fund Equipment Services Fund Engineering Services Fund Environmental Management Fund and
the Municipal Airports Fund
TO Fund/Account/Centers
GG01 472071 0150000 $161.098.75
GR79 472071 0352100 $78.056.58
PE45 472071 0601000 $20.550.27
PE39 472071 0804005 9 730.00
PE40 472071 0551000 2 000.00
PI61 472071 0212010 2 921.68
PI19 472071 0301000 350.00
R103 472071 0521100 5 890.53
FROM Fund/Account/Centers
FE71 538070 0137140
FE71 538070 0137130
$233.097.81
$47.500.00
Submitted for City Manager's Office bv• Richard Zavala (Acting) (8511)
Originating Department Head Jirn Keyes (8517)
Additional Information Contact: Sue Haupt (7761)
Lo~name• 13INSFUIVD04
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