HomeMy WebLinkAbout09321ORDINANCE NO. 9321
AN ORDINANCE BUDGETING AND APPROPRIATING
INSURANCE PROCEEDS IN THE AMOUNT OF $113,100 FOR
TOTALED BUSES AND GRANT CARRYOVER FUNDS FROM
THE 2017 OPERATING GRANT IN THE AMOUNT OF $75,682
AND DEPOSITING SAID FUNDS INTO PROJECT BC1802 AND
THE 2018 PUEBLO TRANSIT OPERATING BUDGET
WHEREAS, on May 16, 2018, Pueblo Transit buses 510 and 512 were involved in an
accident resulting in the totaling of both buses; and
WHEREAS, the City has received proceeds from the insurance company in the amount
of $113,100 for the damages; and
WHEREAS, the 2017 Operating Grant has a remaining fund balance of $75,642 available
for carryover in the 2018 Operating budget; and
WHEREAS, the 2017 Operating Grant requires a 50% local match in the amount of
$75,642; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Insurance proceeds in the amount of $87,000 shall be budgeted, appropriated and
deposited into Project No. BC1802 for the local match of an upcoming bus purchase, and, funds
in the amount of $101,782 shall be budgeted, appropriated and deposited into the 2018 Pueblo
Transit Operating Budget. Matching funds in the amount of $75,642 required by City as the 50%
local match for the 2018 Transit Operating Grant are available from Pueblo Transit’s 2018 Salary
Savings.
SECTION 2.
The officers and staff of the City are directed and authorized to perform any and all acts
consistent with the intent of this Ordinance.
SECTION 3.
This Ordinance shall become effective immediately upon final passage.
INTRODUCED: July 23, 2018
BY: Ed Brown
MEMBER OF CITY COUNCIL
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
ACTING CITY CLERK
PASSED AND APPROVED: August 13, 2018
City Clerk’s Office Item # R-4
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: July 23, 2018
TO: President Christopher A. Nicoll and Members of City Council
CC: Sam Azad, City Manager
VIA: Brenda Armijo, Acting City Clerk
FROM: Pepper Whittlef, Acting Director of Transit
SUBJECT: AN ORDINANCE BUDGETING AND APPROPRIATING INSURANCE
PROCEEDS IN THE AMOUNT OF $113,100 FOR TOTALED BUSES AND
GRANT CARRYOVER FUNDS FROM THE 2017 OPERATING GRANT IN THE
AMOUNT OF $75,642 AND DEPOSITING SAID FUNDS INTO PROJECT BC1802
AND THE 2018 PUEBLO TRANSIT OPERATING BUDGET
SUMMARY:
The attached ordinance budgets and appropriates insurance proceeds from the loss of two buses
involved in an accident.
PREVIOUS COUNCIL ACTION:
None
BACKGROUND:
Pueblo Transit buses 510 and 512 were totaled in an accident on May 16, 2018. The cash value
for both buses equaled $113,100. In addition, the 2017 Operating Grant has carryover funds in
the amount of $75,642 that can be rolled forward to the 2018 Operating budget. This ordinance
will budget and appropriate $87,000 into Capital Project BC1802 for the local match of an
upcoming bus purchase, and $101,742 into 2018 Pueblo Transit Operating budget.
Insurance Proceeds $ 113,100.00 Capital Project BC1802 $ 87,000.00
2017 Operating Grant $ 75,642.00 2018 Operating Budget $ 101,742.00
Rollover
Total $ 188,742.00 Allocated $ 188,742.00
FINANCIAL IMPLICATIONS:
None
BOARD/COMMISSION RECOMMENDATION:
Pueblo Transit Board recommends approval.
STAKEHOLDER PROCESS:
Not applicable.
ALTERNATIVES:
Should this Ordinance not pass, funds will remain in the General Fund and the City will not have
sufficient funds for the required local match of an upcoming bus purchase or needed computer
equipment for the buses.
RECOMMENDATION:
Approval of the Ordinance.