Minutes 06/27/2006 - Laserfiche WebLink

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June 27.2006 "ORDINANCE TO AMEND THE CITY'S FY 2005-2006 HEALTH INSURANCE FUND OPERATING BUDGET TO INCREASE THE ESTIMATED REVENUES AND EXPENDITURES BY THE SUM OF $1,852,554 TO PROVIDE FOR HEALTH INSURANCE CLAIMS." Ayes: Moody, Psimas, Randall, Smith, Whitehurst, Holley Nays: None 06 - 290 - Adoption of an ordinance to amend the City's FY 2005-2006 Risk Management Fund Operating Budget to increase the estimated revenues and expenditures by the sum of $1,200,000 to provide for general liability claims. Vision Principle: A Robust and Prospering Economy. Background: . A supplemental appropriation is needed in the Risk Management Fund to provide funding to cover additional expenditures for general liability claims. . The City needs this additional appropriation prior to the June 30th year-end closing for FY 2005-2006. Discussion: . $1,200,000 received from internal service charge-out revenue for general liability risk management costs charged to the General Fund will be used to provide funding in the Risk Management Fund to pay for the additional expenditures resulting from general liability claims. Council Action: Adoption of an ordinance to amend the City's FY 2005-2006 Risk Management Fund Operating Budget to increase estimated revenues and expenditures by the sum of $1,200,000 to provide for general liability claims. Vision Principle: A Robust and Prospering Economy. Next Steps Following Council Action: . The Chief Financial Officer will ensure that the budget action needed to increase the total appropriations in the Risk Management Fund by $1,200,000 is processed immediately upon adoption of the ordinance. Motion by Ms. Psi mas, and seconded by Mr. Whitehurst, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE TO AMEND THE CITY'S FY 2005-2006 RISK MANAGEMENT FUND OPERATING BUDGET TO INCREASE THE ESTIMATED REVENUES AND EXPENDITURES BY THE SUM OF $1,200,000 TO PROVIDE FOR GENERAL LIABILITY CLAIMS." Ayes: Moody, Psimas, Randall, Smith, Whitehurst, Holley Nays: None 06 - 291 - Adoption of an ordinance to amend the City's FY 2005-2006 General Fund Operating Budget to increase the estimated revenues and expenditures by the sum of $1,302,500 to provide for additional risk management charges and the payment of legal fees. Vision Principle: A Robust and Prospering Economy. Background: . Supplemental appropriations are needed in the General Fund to provide funding to cover additional expenditures for risk management charges (general liability claims) and various legal fees payments. . The City needs these additional appropriations prior to the June 30th year-end closing for FY 2005-2006.