HomeMy WebLinkAboutOrdinance 13595Ordinance No.~ ..5~
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
INSURANCE FUND BY $840,386.42 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING
. „ SUBROGATION AND RECOVERY FROM COMMERCIAL INSURANCE COVERAGE, PROVIDING
FORA SEVERABILITY CLAUSE, MAKING THIS ORDINANCE CUMULATNE OF PRIOR
ORDINANCES AND REPEALING ALL PRIOR ORDINANCES IN CONFLICT HEREWITH, AND
PROVIDING AN EFFECTNE 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 1997-98 and in the Budget of
the City Manager, there shall also be increased estimated receipts and appropriations in the Insurance Fund in the amount of
$840,386.42 from available funds for the purpose of funding subrogation and recovery 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 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 13111 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repealed.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 and effect and after the date of its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
Assista t City Attorney
~/~~~9~'
~^
Date
~'_.~~ ~~
Adopted
Effective
Supplemental Appropriation for the Insurance Fund and Transfer Amounts
to Funds for Property and Liability Losses (Report date: 09/09/1998)
TABLE A
Funds Subrogation Loss Recovery Self Insured
Revenue (A) from Commercial Loss
Insurance (B) Amounts(C)
Total
(A)+(B)+(C)
GGO1 $ 245,926 75 $ 432,983.50 $ 405,045 00 $ 1,083,955.25
General Fund
PI 19 $ 1,752.00 $ 1,752.00
Engineering
PE 39 $ 11,563 00 $ 11,563 00
Golf & Tennis
PE40 $ 1,269 67 $ 54,739 00 $ 56,008 67
Aviation
PE45 $ 1,938 44 $ 3,270 00 $ 5,208.44
Water and
Wastewater
PI 61 $ 309 00 $ 7,500 00 $ 7,809 00
C.S. -Equip. Serv
PI 68 $ 2,846.00 $ 2,846.00
Information Systems
R 101 $ 281,771.50 $ 3,100 00 $ 284,871.50
Environmental Mgt.
total $ 251,195 86 $ 714,755 00 $ 488,063 00 $ 1,454,013 86
Risk Management Department
09/09/1998
City of Fort Worth, Texas
~i-~Ayar And Caunc~l Cammun~cAt~an
DATE REFERENCE NUMBER LOG NAME PAGE
9/29/98 **G-12343 151NSURE 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
1 Adopt the attached supplemental appropriation ordinance increasing estimated receipts and
appropriations in the Insurance Fund by $840,386 42 in Fiscal Year 1998 from available funds due
to subrogation and recovery from commercial insurance coverage, and
2 Adopt the attached supplemental appropriation ordinance increasing appropriations and decreasing
the unreserved undesignated fund balance in the Insurance Fund by $125,563 44 in Fiscal Year
1998 from prior year's revenue due to subrogation and recovery from commercial insurance
coverage, and
3 Authorize the transfer of $1,454,013 86 from the Insurance Fund to various funds as listed on the
attached Table A.
DISCUSSION
Subrogation revenue collected by the Risk Management Department during Fiscal Year 1996-1997
totaled $124,321 44 During the first three quarters of fiscal year 1997-1998, the amount collected was
$126,874 17 Additional recovery was received from the City's commercial insurer(s) during Fiscal
Year 1997-1998 in the amount of $713,512.25 Commercial insurance recovery received during 1996-
1997~totals $1,242.00
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 Additionally, the various operating
funds are entitled to transfer of funds from the City's self-insurance program for losses covered by that
program These transfers are summarized on the attached tables.
City of Fort .Worth, Texas
n/1~Ayar And Caunc~l ~ammun~cAt~an
DATE
9/29/98 REFERENCE NUMBER
**G-12343 LOG NAME
151NSURE 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
and transfer of funds, funds will be available in the current operating budgets of the General Fund, Golf
Fund, Water and Sewer Fund, Engineering Fund, Information Systems Fund, Airports Fund, Equipment
Services Fund, Environmental Fund and Insurance Fund
CB k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
(1) FE71 481142 0157100 $ 126,874 17
Charles Boswel{ 8511 (1) FE71 481082 0157100 $ 713,512.25
Originating Department Head: (1) FE71 538070 0157100 $ 840,386 42
(2) FE71 538070 0157100 $ 125,563 44
(3) PI19 472071 0301000 $ 1,752.00
(3) PI61 472071 0212010 $ 7,809 00
(3) P168 472071 0041000 $ 2,846.00
(3) PE39 472071 0801000 $ 11,563 00
(3) PE40 472071 0550000 $ 56,008.67
(3) PE45 472071 0601000 $ 5,208.44
(3) R101 472071 052098012000 $ 284,871.50 AppROV~~
G01 472071 0150000 $ 1,083,955.25 Y COUNCIL
SusanBulla 8513 (from 1T
(3) FE71 538070 0157100 $ 1,454,013.86 S~P 29
Additional Information Contact:
t~9,y~,, ~Ft ruls.l
City ~rstary of the
ttp of Fart laVorth, Texae
Susan Bulla 8513
Adopted Ordtt~ance ~~v~ j,~~ ~idopfed 4rdinart~~: i~u~~