HomeMy WebLinkAbout007 - 01/19/1988 - TRANSFERRING MONIES FROM THE GENERAL FUND FOR APPROPRIATION INTO THE SELF-INSURANCE FUND ORDINANCE NO. 7 , 1988
OF THE COUNCIL OF THE CITY OF FORT COLLINS
TRANSFERRING MONIES FROM THE GENERAL FUND
FOR APPROPRIATION INTO THE SELF-INSURANCE FUND
WHEREAS, the City has, by Resolution 88- 1 , created a Self-Insurance
Program (the "Program") and a Self-Insurance fund (the "Fund") for the
payment of certain "covered expenses" as described therein; and
WHEREAS, monies are available for transfer into the Self-Insurance
Fund from the reserve account for insurance of the General Fund; and
WHEREAS, additional monies for the operation of the Program are
available from funds previously budgeted and appropriated for the payment
of insurance premiums within the respective budgets of the various
departments of the City; and
WHEREAS, Article V, Section 15 of the Charter authorizes the transfer
of any unexpended appropriated amounts from one fund to another, upon the
recommendation of the City Manager, provided that the purpose for the
initial expenditure no longer exists.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby authorized for transfer into the
Self-Insurance Fund the sum of One Million One Hundred Fifty-Five Thousand
Dollars ($1, 155,000) from the reserve account for insurance of the General
Fund. Such transferred funds, together with all funds hereafter paid into
the Self-Insurance Fund from the "insurance premium" budget categories of
the various departments of the ' City, are hereby appropriated for
expenditure for covered expenses as defined in Resolution 88- 1 .
Introduced, considered favorably on first reading, and ordered
published this 5th day of January, A.D. 1988, and to be presented for final
passage on the 19th day of January, A.D. 1988
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ATTEST:
City Clerk
1988. Passed and adopted on final reading this 19th day of January, A.D.
ATTEST:
City Clerk