HomeMy WebLinkAboutOrdinance 13596<~ - -
Ordinance No. ,~ ~ ~J ~~U
AN ORDINANCE APPROPRIATING $125,563 44 TO THE INSURANCE FUND AND
DECREASING THE UNRESERVED, UNDESIGNATED INSURANCE FUND BALANCE BY
THE SAME AMOUNT FOR THE DUE TO SUBROGATION AND RECOVERY FROM
COMMERCIAL INSURANCE COVERAGE, PROVIDING FOR A SEVERABILITY CLAUSE,
MAKING THIS ORDINANCE CUMULATNE 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 1997-98 and in the
Budget of the City Manager, there shall also be increased appropriation in the Insurance Fund in the amount of
$125,563 44, thereby decreasing the unreserved, undesignated Fund balance by the same amount due to subrogation
and recovery from commercial insurance coverage.
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 m no way unpair the remaining
portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain m full
force and effect.
SECTION 3
That this ordmance 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are hereby expressly repealed.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.
APPR VED AS TO~FORM ND LEGALITY
c_.,.~~---1,
Assistan City Attorney
~l Il 2S ~ °r g
Date
~~~1`~J
Adopted
Effective
City of Fort Worth, Texas
~1-~Ayar And Cauncll ~;ammun~cl~it~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 $124,32'1 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
~l~Ayar And. ~~au~nc~l C,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 Boswell 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
(3j PI19 472071 0301000 $ 1,752.00
(3) PI61 472071 0212010 $ 7,809.00
(3) PI68 472071 0041000 $ 2,84.6.00
(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~D
(3) GG01 472071 0150000 $ 1,083,955.2 +~
`/ C~Upi
`
Susan Bulla 8513 (from) ~~
( ~iVV
~/
(3) FE71 538070 0157100 $ 1,454,013.86 P 29
S
Additional Information Contact: A
V ~I"
of the
tatty ~cretarp
ity of Fart North, Texas
Susan Bulla 8513
Adopted Or~irtance Iyv.C,:~~ ~dop~ed ~rd-nanc~: %uq~..~