LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
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SUPPLEMENTAL BUDGET RESOLUTION NO. 2022-047 APPROPRIATING FUNDING FOR FIRE DAMAGE TO CONCESSION BUILDING AT EXCHANGE PARK
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RECOMMENDATION:
recommendation
That the City Council adopt Supplemental Budget Resolution No. 2022-047.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2022; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
City Council is being requested to adopt supplemental budget resolution transferring funds from LOST IV - General Park Improvements in the amount of $100,000 to pay for deductible amount of the claim that was filed with the City’s insurance company, FMIT, for fire damages to the concession building at Exchange Park. Furthermore, that City Council recognize insurance proceeds in the amount of $307,816 received from FMIT.
PRIOR ACTION:
None
FUNDING:
N/A
FINANCIAL IMPACT:
Adoption of the Supplemental Budget Resolution will move funds to pay the required deductible amount and appropriate the Insurance Proceeds into LOST IV - Exchange Park Concession Bldg.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
4/19/2022
STAFF CONTACT:
Kerrith Fiddler, City Administrator
David Forte, Deputy City Administrator - Community Development
Adrian Stills, Interim Parks and Recreation Director
ATTACHMENTS:
1) Supplemental Budget Resolution No. 2022-047
2) Supplemental Budget Explanation No. 2022-047
PRESENTATION: No end