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Create Budget Modification for Replacement Police Car Purchase

↑Meetings/Documents/res::41-2019::2019-11-04::_11042019-130
Inline resolution2019-11-04#41-2019
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Create Budget Modification for Replacement Police Car Purchase

Resolution #41-2019 — 2019-11-04

WHEREAS

  • the Village of Red Hook was paid by NYMIR $35,510, on April 22, 2019 for a total loss settlement for the 2017 police car; net deductible and retained salvage value
  • this revenue was booked to the Insurance Recovery line in Fiscal Year 2018-2019 and the replacement car was ordered in that Fiscal Year under applicable state contract price options
  • the replacement car was delivered and was billed for in the subsequent Fiscal Year 2019-2020, on September 26, 2019, in the amount of $37,275.92 and the money needs to be paid
  • we need a method to best monitor budget lines and not confuse one-time expenses with routine police vehicle costs
  • the insurance recovery revenue was carried as fund balance from last Fiscal Year to the current Fiscal Year

RESOLVED

  • the police vehicle replacement expense be allocated to a fund balance transaction in the amount of $37,295.92 and the Treasurer is authorized to make the payment and requisite budget modifications