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2002 <br /> Budget Adjustments <br /> Tally Sheet <br /> Department Code Rev Exp FB <br /> NGA-3 Self Insurance -Amendment-Insurance 503A 673,080 714,950 (41,870) <br /> The event of September 11th 2001 caused the insurance markets to price insurance premiums much higher <br /> than estimated during the 2002 budget process,therefore an amendment is required to increase insurance <br /> premium expense by$714,950. Major coverages that increased include: <br /> Property: $429,000 <br /> Transit Liability: $82,000 <br /> Excess Liability: $61,000 <br /> Excess Property:$77,000 <br /> $41,870 of the increase will be absorbed by using the Fund 503 Self-insurance Reserve fund balance. This <br /> Fund collects Interfund Insurance charges from various City operating funds in order to pay the insurance <br /> premiums. See related amendments GGA#4 and NGA#2. <br /> Increase Self Insurance Fund Interfund Charges-General Govt 211,533 <br /> Increase Insurance Premium Expense-General Govt 219,689 <br /> Decrease Self Insurance Fund Reserves/Ending Fund Balance 8,156 <br /> Increase Self Insurance Fund Interfund Charges-Non-General Govt 461,546 <br /> Increase Insurance Premium Expense-Non-General Govt 495,260 <br /> Decrease Self Insurance Fund Reserves/Ending Fund Balance 33,714 <br /> Ot <br /> Tally 2002 5/13/02 9:28 AM <br />