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County Administrator's Report 12. 13.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	04/09/2015
Issue: SBA# - April 2014 Flood/Disaster Insurance Proceeds
From:	Stephan Hall
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Supplemental Budget Amendment #098 - Stephan Hall, Management and Budget Services Interim Department Director

That the Board adopt the Resolution approving Supplemental Budget Amendment #098, Internal Service Fund (501), in the amount of $7,728,166, to recognize insurance proceeds received from the 2014 Flood/Disaster and Freeze events, and to appropriate these funds to be used for repair and maintenance and other insurable activities for the Board of County Commissioner (BCC) operations.

BACKGROUND:

Escambia County has received two insurance reimbursement checks from Axis Surplus ($5 million), Allied World Assurance ($2.5 Million) Travelers ($100k), and Ironshore Specialty ($46,177) Insurance Companies as well as a some smaller policies ($81,989). These funds are from the April 2014 Flood/Explosion Disaster. These funds will assist with continuity of operations for various BOCC Departmental activities.

BUDGETARY IMPACT:

This amendment will increase Fund 501 in the amount of $7,728,166.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Board policy requires increase or decreases in funds to the approved by the Board.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
SBA#098