ORDINANCE AND RESOLUTION FACT SHEET					City of Shreveport
TITLE			DATE			ORIGINATING DEPT./DIV.
AN ORDINANCE ADOPTING THE 2010 RETAINED RISK INTERNAL SERVICE FUND, APPROPRIATING THE FUNDS AUTHORIZED THERIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO			Oct. 1, 2009			EXECUTIVE OFFICE
						SPONSOR OR COUNCIL MEMBER
						MAYOR CEDRIC B. GLOVER
PURPOSE
To adopt the 2010 Retained Risk Fund budget, in accordance with State law and City Charter.
This Ordinance or Resolution will have direct impact on Council District:							All
BACKGROUND INFORMATION
This fund reflects a 12.3% increase from 2009, mostly due increases in reserves. The contribution from General Fund is $6,750,000.
TIMETABLE
Introduction:	October 13, 2009
Final Passage:	By December 15, 2009
SPECIAL PROCEDURAL REQUIREMENTS
A public hearing must be held on this budget for adoption by Council.
FINANCES				SOURCE OF FUNDS
CONCLUSION
Approval of this ordinance is recommended.
FACT SHEET PREPARED BY:		Rick Seaton, Assistant CAO

ORDINANCE NO. ____ OF 2009

AN ORDINANCE ADOPTING THE 2010 BUDGET FOR THE RETAINED RISK INTERNAL SERVICE FUND, APPROPRIATING THE FUNDS AUTHORIZED THEREIN, AND OTHERWISE PROVIDING WITH RESPECT THERETO

BY:

WHEREAS, Article 7 of the Charter of the City of Shreveport requires the adoption of a comprehensive operating budget for the year 2010; and

WHEREAS, the City Council has created a Retained Risk Internal Service Fund whose purpose is to provide funding for property damage, workers’ compensation and general liability claims made against the City of Shreveport.

NOW, THEREFORE, BE IT ORDAINED, by the City Council of the City of Shreveport, in legal session convened, that:

1. Estimated Receipts - The estimated receipts of the Retained Risk Internal Service Fund for 2010 are hereby established as follows:

Estimated Fund Balance as of 1/1/2010 $ 10,909,600

Transfer from General Fund 6,750,000

Transfer from Water and Sewerage Fund 2,500,000

Transfer from Airports Fund 229,000

Interest Income 400,000

Insurance Subrogation 850,000

Miscellaneous Revenue 10,000

TOTAL $ 21,648,600

2. Appropriations - The funds set forth in the following classes of expenditures are hereby appropriated out of the Retained Risk Internal Service Fund’s receipts for the year 2010:

Personal Services $ 2,963,300

Materials and Supplies 6,800

Contractual Services 13,300

Other Charges 8,689,400

Liability Reserves 9,974,800

Improvements and Equipment 1,000

TOTAL $ 21,648,600

3. The Retained Risk Internal Service Fund budget presented to the City Council by the Mayor on October 1, 2009, as amended by subsequent action by this Council, be and the same is hereby adopted.

4. Administration - The Mayor is hereby authorized to execute all contracts, deeds, grant documents and other legal instruments necessary to expend or receive funds herein authorized, subject to the provisions of Section 26-174 of the Code of Ordinances relative to the settlement of claims against the City.

5. Donation of City Funds - No funds herein appropriated shall be donated, loaned or pledged, and no expenditures for such purposes shall be authorized except in accordance with Section 26-53 of the Code of Ordinances, as it exists now or may hereafter be amended.

BE IT FURTHER ORDAINED that if any provision or item of this ordinance or the application thereof is held invalid, such invalidity shall not affect other provisions, items or applications of this ordinance which can be given effect without the invalid provisions, items or applications; and to this end, the provisions of this ordinance are hereby declared severable.

BE IT FURTHER ORDAINED that all ordinances or parts thereof in conflict herewith are hereby repealed.

BE IT FURTHER ORDAINED that this ordinance will be effective on January 1, 2010.

APPROVED AS TO LEGAL FORM:

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City Attorney’s Office