Fiscal Note
The proposed resolution amends the adopted 2016 capital budget for Fleet Service to accept the insurance proceed revenue in the amount of $45,018. The increase in revenue will partially offset the total $66,148 replacement cost of the asset, leaving $21,130 to be paid from Fleet's Equipment Replacement program's (MUNIS 17060) existing 2016 budget authority.
MUNIS:
17060-41-999 - $45,018
Title
Amending the adopted 2016 capital budget of Fleet Service to accept insurance proceeds revenue in the amount of $45,018 to pay for necessary repairs on fleet asset #4594 with vendor Stepp Equipment Company.
Body
WHEREAS, Fleet Service asset #4594 was damaged to a total cost of replacement of $66,148; and
WHEREAS, The cost of the damage is partially offset by insurance proceeds of $45,018; and
WHEREAS, In order to purchase parts compatible with current equipment, Fleet Service needs to purchase parts from sole source vendor Stepp Equipment Company; and
WHEREAS, Authorization for repairs through a sole source vendor is required under MGO 4.26 (4)(a)(2);
NOW, THEREFORE BE IT RESOLVED that the Fleet Service's adopted 2016 capital budget is amended to accept insurance proceeds revenue in the amount of $45,018 to offset the expenditure for repairs to asset #4594 with Stepp Equipment Company; and
BE IT FINALLY RESOLVED the remaining replacement cost of $21,130 will be paid from the existing 2016 Fleet Services capital program budget for Fleet Equipment Replacement (MUNIS 17060).