Finance Committee - 08/19/2020 Page 7
Alderman Klee
Thank you Mr. Mayor, actually what Alderman O’Brien had asked was the question that | wanted to ask. Mr.
Griffin the question | have is this the same item that we had that was going to be, that we did get some
insurance money for but we have to put that in as a revenue and then we just file this? Is this how this is
working.
Mr. Griffin
That’s a great question Alderwoman Klee. The other vehicle, the transit vehicle, because of the magnitude
and size of that vehicle we actually got insurance money that you folks will be, | think you’ve already done it,
you have appropriated as a supplemental appropriation, the money back into CERF. But both Treasurer
Fredette and | feel comfortable that there’s enough funds available and there will be more funds available
based on our strategy to put more money in, in September through the escrow process.
Alderman Klee
Mr. Mayor, follow up.
Mayor Donchess
Yes, of course.
Alderman Klee
Pardon my —| feel like | am not quite understanding and | apologize Mr. Griffin. So this does not go through
insurance so there is no insurance or was it that it wasn’t completely paid off or how did this work, I’m sorry.
Mr. Griffin
Mr. Mayor maybe | can be clearer. Basically it was self-funded through the Risk Department. So when the
Board of Alderman appropriate over $3 million dollars to the Risk Department every Budget year, there’s
money there to pay for accidents.
Alderman Klee
Ok now | get it, thank you.
Mr. Griffin
When we bring it out the Risk Department it becomes a revenue to the City and | as mentioned you can’t
spend revenue, you have to spend an appropriation. But we thought because of the fact that we have saved
money in Fiscal 20 we have enough to fund this without going through the process of the supplemental
appropriation at this time.
Alderman Klee
Thank you, now | understand it, thank you very much.
Mayor Donchess
Any other questions or comments? Could the Clerk please call the roll?
