HomeMy WebLinkAboutOrdinance 14400Ordinance No. ~ ~ `/0~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
INSURANCE FUND IN THE AMOUNT OF $363,954.95 FROM AVAILABLE FUNDS DUE TO THE
COLLECTION OF SUBROGATION REVENUE FROM COMMERCIAL INSURANCE COVERAGE,
MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND REPEALING ALL
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 the Fiscal Year 2000-01 and in the Budget of
the City Manager, there shall also be increased estimated receipts and appropriations in Insurance Fund in the amount of
$363,954.95 from available funds due to the collection of subrogation revenue from commercial insurance coverage.
SECTION 2.
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 junsdichon, 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. 14286 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repealed.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 and be in full force after the date of its passage, and it is so ordained.
APPROVED AS TO F RM AND LEGALITY
Ass st City Attorney ~ D~,y
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Date
/~ `,'.O d
Adopted
~D -Q~
Effective
SUPPLEMENTAL APPROPRIATIONS FOR THE INSURANCE FUND & TRANSFER
AMOUNTS TO FUNDS FOR THE (NSURED PROPERTY AND LIABILITY LOSSES
SELF-INSURED LOSSES RECOVERY TO OPERATING FUNDS
Commercial TOTAL
Subrogation Insurance Self-Insured A, B & C
Fund Amount (A) (B) (C) (D )
General Fund
GG01 $ 60,478 00 $ 105,728 74 $ 230,265 85 $ 60,478 00 $396,472.59
Water 8~
Wastewater
PE45 $ 15,790 74 $ 15,790 74
Golf Fund
PE39 $ 1,563 61 $ 1,563 61 $ 1,563 61
Airports Fund
PE40 $ 3,150 00 $ 3,150 00 $ 3,150 00
City Services
Pl 61 $ 500 00 $ 5 376 50 $ 500 00 $ 5,876 50
Environmental
Management
R103 $ 6,79312 $ 6,79312
TOTAL $ 65,691.61 $ 133,689 10 $ 230,265.85 $ 65,691.61 $429,646.56
APPROP1A710N TRANSFER Jan-Sept2000
City of Fort Worth, Texas
~1-~Ayar And ~,uunc;l C,umfnun~cAt~an
DATE REFERENCE NUMBER LOG NAME PAGE
11/7/00 **G-13057 151NSURANCE 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 $363,954 95 from available funds due to subrogation and
recovery from commercial insurance coverage, and
2 Authorize the transfer of $429,646 56 from the Insurance Fund to various funds as listed on the
attached table
DISCUSSION
Throughout the year, the Risk Management Department collects revenue from commercial insurance
companies from City-owned insurance policies, and the department collects subrogation revenue from
individuals (and/or their insurance company) who have caused damage to City property, or are
responsible for occupational injuries sustained by City employees Periodically, the City Council is
requested to appropriate these revenues and to transfer them to the City operating fund that has
sustained the loss
These City operating funds are also entitled to be reimbursed for losses covered by the City's self-
insurance program administered by the Risk Management Department. Approval of the
recommendations of this Mayor and City Council Communication affects that reimbursement for the
losses covered by the self-insurance program
The Risk Management Department has collected unappropriated subrogation revenue totaling
$133,689 10, and has received unappropriated recovery of $230,265 85 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 $65,691 61 from the City's self-
insurance program for losses covered by that program These transfers total $429,646 56 Affected
funds include the General Fund, Water and Sewer Fund, Golf Fund, Airports Fund, Equipment Services
Fund, and the Environmental Management Fund
City of Fort Forth, Texas
~I~awr un~ aunc~! ~rutn~un~cA~ian
~ C
DATE
11/7/00 REFERENCE NUMBER
**G~13057 LOG NAME
151NSURANCE PAGE
2 of 2
suB.lECT 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 of the Insurance Fund T-he transfer of funds
from the Insurance Fund will be recorded as revenue in the General, Water and Sewer, Golf, Airports,
Equipment Services, and the Environmental Management Funds
CB k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1) FE71 481142 0157100 $133,689 10
Charles Boswell 8511 1) FE71 481082 0157100 $230,265.85
Originating Department Head: 1) FE71 538070 0157140 $363,954.95 APPROVED
2) GG01 472071 0150000 $396,472.59
CIL
2) PE45 472071 0601000 $ 15,790 74 CITY COUN
2) PE39 472071 0804310 $ 1,563.61
2) PE40 472071 0551000 $ 3,150.00 NOV ~ 2000
2) P161 472071 0212010 $ 5,876.50 /1
2) R103
472071
0521100
$ 6,793 12 `~~~ J
/(!.'~'°.".`.
Susan Bulla 8513 (from) City gec:etary of the
+
2) FE71 538070 0157140 $429,646.56 eza~
City d Fost Worth. Y
Additional Information Contact:
Susan Bulla 8513
Adopted Ord:Hance No, fyY~D