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Resolution approving a Level Three fund transfer for $205,000 to cover repairs for a fire truck involved in an accident and recognize insurance revenue proceeds
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WHEREAS, a Wauwatosa Fire Department fire truck was involved in an accident and incurred significant damages; and
WHEREAS it is anticipated that the cost of repairs will be approximately $165,000, with insurance proceeds reimbursing the City for $140,000, following payment of the City’s deductible amount; and
WHEREAS the repair account has experienced additional overages in 2023 requiring an additional fund transfer of $40,000 to complete the budget year with an appropriate balance;
NOW THEREFORE BE IT RESOLVED by the Common Council of the City of Wauwatosa that a Level 3 fund transfer be approved in the amount of $205,000 to cover repairs for the fire truck and additional overages in the repair accounts, and that the 2023 budget be amended to recognize insurance revenue proceeds when such reimbursement occurs.
By: Financial Affairs Committee
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Recommendation: Approve 8-0