HomeMy WebLinkAboutCC AG PKT 2002-11-12 #F AGENDA REPORT v �//
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DATE: November 12, 2002 f
TO: Honorable Mayor and City Council
. THRU: John B. Bahorski, City Manager
FROM: Pamela Arends -King, Director of Administrative Services /Treasurer
SUBJECT: California Joint Powers Insurance Authority
SUMMARY OF REQUEST:
Staff requests council approve the reappropriation of funds to pay the risk management
property insurance.
BACKGROUND:
On July 31, 2002, the finance department received a request to pay an invoice from
California Joint Powers Insurance Authority for All Risk Property Insurance Program
covering the period of January 1, 2002 to January 1, 2003. The amount was budgeted in
the prior fiscal year, but was not spent. In order to pay the invoice in the current fiscal
year, a budget amendment is required to rebudget the funds in the current fiscal year.
FISCAL IMPACT:
This budget amendment will decrease the estimated fiscal year ending undesignated
general fund balance for fiscal year 2002/03 by $80,751 from $4,748,353 to $4,667,602.
RECOMMENDATION:
Staff recommends council approve the reappropriations of $80,751 from the prior fiscal
year to cover the property insurance premium.
W0
amela Arends -King v
Direct • dministrative Services /Treasurer
Jo � f:.: ahorski
i/ Manager Agenda Item /�"