TO: Napa-Vallejo Waste Management Authority Board of Directors
FROM: Chris Celsi, Executive Director
REPORT BY: Chris Celsi, Executive Director
SUBJECT: Budget Amendment to increase Appropriations - Insurance Package Renewal
RECOMMENDATION
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Budget Amendment: Insurance Renewal FY 2024
Approval and authorization for the Executive Director to sign a Budget Amendment request to increase appropriations by $12,000 to cover a 10% increase not anticipated in the budget for 2024-2025.
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EXECUTIVE SUMMARY
Malloy, Imrie & Vasconi Insurance Services has increased the Property and Earthquake coverage for 2024-2025 not anticipated in the budget for 2024-2025. The increased Appropriations will be offset with the use of available Fund Balance.
FISCAL & STRATEGIC PLAN IMPACT
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Is there a Fiscal Impact? |
Yes |
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Is it currently budgeted? |
No |
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Is it Mandatory or Discretionary? |
Discretionary |
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Is the general fund affected? |
Yes |
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Future fiscal impact: |
None |
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Consequences if not approved: |
Invoices for services provided cannot be paid. |
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: The proposed action is not a project as defined by 14 California Code of Regulations 15378 (State CEQA Guidelines) and therefore CEQA is not applicable