Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Risk Management Fund (Fund 58) Budget Of The Fiscal Year 2015 Adopted Operating Budget (R-2014-282), Reappropriating Certain Funding, Authorizing Establishment of Appropriate Line Items, And Providing An Effective Date.
Body
Staff Recommends: Approval of the Resolution
Explanation:
Certain routine and periodic budgetary adjustments and transfers are appropriate and necessary.
Operational requirements necessitate certain revisions to the Adopted Fiscal Year 2015 Budget to transfer necessary funding between line items for certain insurance programs contained in the Risk Management Fund (Fund 58).
The adopted FY 15 budget included the funding in a pooled line item. This resolution proposes transferring the pooled funds into individual insurance line items, such as general liability, auto insurance, workers compensation, etc. as detailed further in the attached exhibit. There is no impact to the overall total operating budget.
Recommended for inclusion on the agenda by:
Cathy Swanson-Rivenbark, City Manager
Matthew Lalla, Financial Services Director