Through Ordinance No. 2001-0534, City Council approved and authorized the creation of the Disaster Recovery Fund (Fund 2419) which was authorized to receive funds from any source for the purpose of repairs, relief, and recovery relating to Tropical Storm Allison, and to receive reimbursement for such expenditures from any source, including but not limited to the Federal Emergency Management Agency (FEMA), the State of Texas, or insurance policies. Monies in the Disaster Recovery Fund could only be spent for those purposes. It is determined that Tropical Storm Allison is no longer open to be receiving any more funds, or is subject to returning any funds to FEMA or the state. The City now desires to close out the Disaster Recovery Fund due to inaction.
The Finance Department is requesting that City Council hereby appropriates all remaining unencumbered funds in the amount of $3,104,317.10 from the Disaster Recovery Fund (Fund 2419), and authorizes the transfer of the appropriated funds to the Disaster Recovery Fund 5303 fund balance. Further, City Council authorizes the closure of the Disaster Recovery Fund 2419 upon final payment of any remaining encumbered funds.
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Tantri Emo, Finance Director