Item Coversheet

Spotsylvania County
Board of Supervisors Agenda
Executive Summary




Meeting Date:
March 13, 2018
Title:
Budget Adjustment and Appropriation of Insurance Reimbursement

Type:
Appropriation
Agenda Title:
Budget Adjustment and Appropriation of Insurance Reimbursement
Recommendation:
Approve the attached budget adjustment and appropriation
Summary:

Insurance reimbursements totaling $5,241.51 were received from the County’s vehicle insurance policy to compensate for two accidents involving Building Department vehicles.  These reimbursements are meant to cover the cost of repairs needed to the vehicles less a $250 deductible for each occurrence. 

 

A budget adjustment and appropriation are necessary to reflect the revenue and expenditures associated with the repairs.  Because this insurance revenue was deposited to the General Fund initially, a transfer between funds is necessary to shift the funding to the Code Compliance Fund for the Building Department’s use towards the vehicle repairs.


Committee/Commission Summary:
Finance Committee
Review Date:
02/22/18
Status:Approved
Financial Impact:
Please see the attached budget adjustment
Staff Contacts:
Lewis Watts, Building Official
Consequence of Denial/Inaction:

The Building Department’s Auto Repairs and Maintenance account will have a negative balance for the fiscal year.


ATTACHMENTS:
File NameDescriptionType
Insurance_Reimbursement_Adjustment_-_Budget_Adjustment.docBudget AdjustmentBudget Amendment
Insurance_Reimbursement_Adjustment_-_Appropriation.docAppropriationAppropriation