Title
Request to Amend the Budget for an Insurance Settlement and for Replacement Equipment
Summary
Description of Topic: (who, what, where, when, why and how much)
Request to increase the revenue budget for Account No. 01-5142, Insurance Settlements, by $24,587.01 for an insurance check received for the loss of a used front mount mower that was transferred from Streets to General Government for use at the Nature Parks. The mower burned up during use at the Park and a new front mount would cost in excess of $30,000. Request to replace the front mount with a X Mark zero turn mower with mulch kit from G & J's Power Equipment, Inc. and increase the budget for Nature Parks Capital Purchases, Account No. 01-620-7040, by $11,644.95. The net impact to the General Fund budget is a positive $12,942.06.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
__X__ Not Budgeted - account #__01-620-7040_ requires budget increase of $__11,644.95_; However, the insurance settlement will cover the total cost and have a positive impact of $12,942.06 to the budget.
Capital Project
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, a used front mount mower that was transferred from Streets to the Nature Parks burned up during use in August 2014, and
WHEREAS, an Insurance Settlement of $24,587.01 was received this fiscal year and recorded under Revenue Account No. 01-5142 Insurance Settlements, and
WHEREAS, the Nature Parks has the need for a less expense type of replacement mower to maintain the parks, and
WHEREAS, G & J's Power Equipment, Inc. has a zero turn mower with a mulch kit available for $11,644.95.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Acknowledges an insurance settlement for a destroyed front mount mower in the amount of $24,587.01 and increases the budget for Revenue Account No. 01-5142, Insurance Settlements.
SECTION 2: Approves the purchase of a X Mark zero turn mower with mulch kit from G & J's Power Equipment, Inc. in the amount of $11,644.95 ($12,942.06 less than the insurance settlement), and increases the budget for Expense Account 01-620-7040, Nature Park Capital Purchases, in the amount of $11,644.95.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.