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Transferring the Sum $32,800 various Accounts in the Department of Administration & Finance
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Transferring the Sum $32,800 various Accounts in the Department of Administration & Finance
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11/15/2013 1:48:56 PM
Creation date
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/10/1975
Ord-Res Number
5913-75
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Department of Administration and Finance <br />South Bend, Indiana <br />TO: Members of the Common Council <br />FBOW James V. Barcome, Controller <br />Director, Administration & Finance <br />SUBJECT: <br />Date November 5, 1975 <br />Due to several un- anticipated expenses and increases in <br />the 1975 Annual Budget (which, of course, was prepared <br />in July, 1974), we must request several transfers in the <br />Controller's Budget. <br />Specifically, these transfers are to the City postage <br />account 212.0 in the amount of $1,200.00 and to the <br />City's insurance account 510.0 in the amount of $31,600.00. <br />The original postage account was budgeted at $10,500.00, <br />which, due to rate increases and increased mailing demands, <br />requires an 11% increase of $1,200.00. <br />The insurance account of $118,000.00 requires a $31,600.00 <br />increase to $149,600.00 for the following reasons: <br />1. The General Fund must absorb the cost of liability <br />and property insurance incurred by the operation <br />of the River Bend Plaza - - -an expense not previously <br />carried by the City. <br />2. As you are well aware, there has been a dramatic <br />increase in auto liability insurance, due to <br />increased premiums by the insurance companies. The <br />City, as any private citizen, must also pay these <br />increased premiums. <br />3. The bank holding the lease - purchase agreements on <br />the three fire trucks purchased in 1972 now requires <br />the City to furnish collision insurance for these <br />vehicles - -an additional cost - -which was not antici- <br />pated during annual budget preparations in 1974 for <br />1975. <br />4. As you know, the City has instituted a paramedic <br />program this year. This very valuable life- saving <br />service is specifically exempted from the general <br />-1- <br />
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