Title
Ordinance in the Amount of $247,535 Amending FY 16-17 Equipment Services Fund Budget
Body
Department: Financial & Administrative Services
Council District: All
Public Hearing:
Advertising Date/By:
Contact 1 and Phone: Richard Lusk, Finance Director 373-2077
Contact 2 and Phone: Chris Payne, Deputy Finance Director 373-2188
PURPOSE: To amend the FY 16-17 Equipment Services Fund budget, in the amount of $247,535, for vehicle maintenance and repairs.
BACKGROUND: On September 28, 2016 a significant weather front passed over Greensboro, producing hail large enough to cause damage to vehicles and older PVC roof systems. Approximately 101 City owned-vehicles as well as roofs at the Patton Avenue Service Center, Glenwood Library and Fire Station #8 were assessed for damage by our property insurance provider. While roof repair costs, estimated at $789,000, are being paid directly by our insurance provider, the appraised value of the damage to City vehicles, approximately $247,535, has been remitted to the City for repair costs.
BUDGET IMPACT: Insurance proceeds from our property insurance provider and the Property Insurance Deductible Fund will cover the cost of building and vehicle repairs.
RECOMMENDATION / ACTION REQUESTED: The Finance Department requests City Council approval of the attached budget ordinance amending the FY 16-17 Equipment Services Fund budget in the amount of $247,535.