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Home My WebLink AboutOrdinance 11413t a' - . z ORDINANCE NO ~ /- ~- AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS BY $27,222.00 AND INCREASING APPROPRIATIONS BY $119,679 43 IN THE PROPERTY AND CASUALTY INSURANCE FUND RESULTING FROM SUBROGATIONS OF INSURANCE CLAIMS AND RECOVERY FROM COMMERCIAL INSURANCE COVERAGE FOR INSURED LOSSES; PROVIDING FOR A SEVERABILITY CLAUSE, 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 1993-94 and in the Budget of the City Manager, there shall also be increased estimated receipts in the amount of $27,222 00 and increased appropriations in the amount of $119,679 43 in the Property and Casualty Insurance Fund resulting from subrogations of insurance claims and recovery from commercial insurance coverage for insured losses for the period from July 1, 1992 to September 1, 1993. 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 11379 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed SECTION 4 This ordinance shall take effect and be in full force and effect from and after the date of its passage, and it is so ordained. APPROVED AS TO FORM AND LEGALITY ,{~~ity A~6rney / ~ ~ ylz~ Date ' ~~~~-~~ Adopted Effective City of Fort Worth, Texas Mayor and Council Communication DATE REFERENCE NUMBER I,O(~ NAME PAt3E 09/30/93 G-10367 15SUBR0 1 of 2 SUBJECT SUPPLEMENTAL APPROPRIATION FOR THE INSURANCE FUND AND TRANSFER AMOUNTS TO FUNDS FOR INSURED PROPERTY AND LIABILITY LOSSES It is recommended that the City Council Adopt the attached Supplemental Appropriations Ordinance increasing estimated receipts by 527,222 00 from increased revenue and increasing appropriations by 5119,679 43 in ~~ the Property and Casualty Insurance Fund resulting from subrogations of insurance claims (592,457 43) from July 1, 1992 to July 1, 1993 and recovery from commercial insurance coverage (527,222 00) for insured losses for the period from July 1, 1992 to September 1, 1993, and 2 Authorize the City Manager to transfer funds from the Property and Casualty Insurance Fund to the following funds General Fund Engineering Fund Golf Fund Water & Sewer Fund Airport Fund TOTAL DISCUSSION Subrogation Insured/Self Insured Revenue Loss Recovery 571,262 46 5 82,023 00 5 9,107 65 5 6,353 00 512,087 32 $92.457.43 5 18,094 00 5 48.418..00 5154.888.00 TOTAL 5153,285 46 5 9,107 65 5 6,353 00 5 30,181 32 5 48.418.00 5247,34.5.43 Subrogation revenue has been collected by the Risk Management Department Claims office for damages the Gity incurred for which other parties were responsible The attached Table A lis*.s the departments and respective funds whose losses were recovered Recovery was received from the City's commercial insurers in the amount of 527,222 00 for losses as detailed in Table B The City's self insurance program provides recovery of 583,408 00, also detailed in Table B Included in the Insured/Self Insured Loss Recovery amount listed above, 548,418 00 for the Airport Fund, is 544,428 00 for lost revenue from Delta Aeronautics, Inc and Pegasus Flight Center, Inc Both parties are Fort Worth Meacham Airport tenants whose settlements for liability claims against the City due to losses arising from the March 17, 1992 electrical panel fire in the basement of the airport's administration building were approved by City Council in March, 1993 The settlement payments were reduced, as agreed, by respective amounts of past due lease fees Therefore, the lost revenue, 544,428 00, is being reimbursed to the Airport Fund ~~'~ Printed on recycled paper City of Fort Worth, Texas Mayor and Council ComnZUnication DATE ,, 09/30/93 REFERENCE NUMBER G-10367 LOG NAME 15SUBR0 PAGE 2 of 2 SUBJECT SUPPLEMENTAL APPROPRIATION FOR THE INSURANCE FUND AND TRANSFER AMOUNTS TO FUNDS FOR INSURED PROPERTY AND LIABILITY LOSSES FISCAL INFORMATION/CERTIFICATION. The Director of Fiscal Services certifies that upon adoption of the attached Supplemental Appropriations Ordinance, funds will be available in the current operating budget of the Insurance Fund for the recommended transfers CBI Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (~) (1) FE71 481082 0157100 S27,222.00 Charles Boswell 8500 (2) FE71 534210 0157140 527,222.00 Originating Department Head: , (3) FE71 538070 0157100 S92,457.43 Susan Bulla 8513 (4) GGOI 481100 0150000 S153,285 46 APPROVED (5) PI19 481100 0301000 59,107.65 CI TY CQU~CIL (6) PE39 481100 0801000 S6,353.00 m PE45 481100 0601000 530,181.32 ~~T Jt "•" (8) PE40 481100 055,1000 S48,418.00 (from) ~~~~ ~~ ~ l~tf,J ~trtti.~, j(„/ FE71 538070 0157100 $92,457.43 City ~cr~etaay cf the For Additional Information FE71 534260 057140 575,408.00 City of Fart Wartle, Feras Contact: SusanBulla 8513 FE71 FE71 534210 534010 0157140 0157110 S35,222.00 544,258.00 g~(1~t~~ l~r f R (.itlciilC;,~' i'~r~~ ~/- ! ~, =~~ Printed on recycled paper