HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 12/02/2014 - FIRST READING OF ORDINANCE NO. 170, 2014, AMENDINGAgenda Item 7
Item # 7 Page 1
AGENDA ITEM SUMMARY December 2, 2014
City Council
STAFF
Lawrence Pollack, Budget & Performance Measurement Manager
Mike Beckstead, Chief Financial Officer
SUBJECT
First Reading of Ordinance No. 170, 2014, Amending Ordinance No. 143, 2014, to Correct the Appropriation of
Prior Year Reserves to be From the Self-Insurance Fund Rather than from the General Fund for Insurance
Expenses
EXECUTIVE SUMMARY
The purpose of this item is to make a correction to adopted Ordinance No. 143 so that $610,000 of prior year
reserves needed to fund the City’s worker’s compensation, property and liability claim payments for the
remainder of 2014 are appropriated from the Self-Insurance Fund rather than from the General Fund.
STAFF RECOMMENDATION
Staff recommends adoption of this Ordinance on First Reading.
BACKGROUND / DISCUSSION
On November 4, 2014, City Council adopted Ordinance No. 143, 2014 to appropriate $610,000 of prior year
reserves from the Self-Insurance Fund to fund unforeseen insurance expenditures for worker’s compensation,
property and liability claims for the remainder of 2014.
In the operative language of Ordinance No. 143, 2014, the approved funds were appropriated from prior year
reserves in the General Fund rather than from prior year reserves in the Self-Insurance Fund. This Ordinance
will revise the appropriation so $610,000 will be appropriated from prior year reserves from the Self-Insurance
Fund as originally stated in the November 4th Agenda Item Summary. All other provisions contained in
adopted Ordinance No. 143, 2014, shall remain unchanged.
FINANCIAL / ECONOMIC IMPACTS
This Ordinance will appropriate $610,000 of prior year reserves to fund the City's worker's compensation,
property and liability claim payments from the Self-Insurance Fund rather than from the General Fund.
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ORDINANCE NO. 170, 2014
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING ORDINANCE NO. 143, 2014, TO CORRECT THE APPROPRIATION OF
PRIOR YEAR RESERVES TO BE FROM THE SELF-INSURANCE FUND RATHER THAN
FROM THE GENERAL FUND FOR INSURANCE EXPENSES
WHEREAS, on November 4, 2014, the City Council adopted Ordinance No. 143, 2014,
for the intended purpose of appropriating $610,000 of prior year reserves from the Self-Insurance
Fund to fund unforeseen expenditures for worker’s compensation, property and liability claims
for the remainder of 2014; and
WHEREAS, in the operative language in Ordinance No. 143, 2014, these funds were
appropriated from prior year reserves in the General Fund rather than from prior year reserves in
the Self-Insurance Fund; and
WHEREAS, the purpose of this Ordinance is to appropriate $610,000 of prior year
reserves from the Self-Insurance Fund, rather than from the General Fund to fund the City’s
worker’s compensation, property and liability claim payments for the remainder of 2014.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS, as follows:
Section 1. That the one reference to “General Fund” in the operative language of
Ordinance No. 143, 2014, is hereby changed to “Self Insurance Fund”.
Section 2. That all other provisions contained in Ordinance No. 143, 2014, are
hereby reaffirmed and shall remain unchanged and in full force and effect.
Introduced, considered favorably on first reading, and ordered published this 2nd day of
December, A.D. 2014, and to be presented for final passage on the 16th day of December, A.D.
2014.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk
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Passed and adopted on final reading on the 16th day of December, A.D. 2014.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk