Report to Mayor and City Council
Tuesday, December 07, 2021
Consent
SUBJECT:
Title
CONSIDER: (1) APPROVAL OF PURCHASE OF TRANSIT LIABILITY INSURANCE FROM CALTIP; (2) ADOPTION OF A RESOLUTION AMENDING THE FISCAL YEAR 2021-22 BUDGET IN THE TRANSPORTATION SERVICE DIVISION PROPOSITION A FUND FOR THE PURCHASE OF TRANSIT INSURANCE; AND (3) ADOPTION OF A RESOLUTION AMENDING THE FISCAL YEAR 2021-22 BUDGET IN THE TRANSPORTATION SERVICES DIVISION PROPOSITION C FUND TO ALLOCATE FUNDS THAT WERE NOT INCLUDED DURING THE PREPARATION OF THE PROPOSED FISCAL YEAR 2021-22 BUDGET (CITY COUNCIL)
Body
I. SUMMARY
Staff is seeking the approval of the City Council to procure transit liability insurance and make budget appropriations in support of the Transportation Services Division's programming for Fiscal Year (FY) 2021-22. The appropriations would be made internally within the City's Proposition A and C funds. There is no fiscal impact to the City's General Fund accounts.
The procurement and first appropriation request pertains to binding liability insurance coverage for the City's transit operations for an annual premium of $112,931, prorated for the remaining seven (7) months of FY 2021-22, or $65,877. The proposed insurance would cover City's liabilities associated with operating Carson Circuit, the City's staff-operated fixed-route service, as well as the City's contingent liabilities associated with the fixed-route service provided by Long Beach Transit (LBT).
The second request is being made to rectify a miscalculation that was made during staff's preparation of the proposed FY 2021-22 budget. Prior to submitting the proposed Proposition C budget, the subtotals of two accounts were absent in the calculation of the grand total. This error should have been identified and corrected prior to submitting the proposed budget to the Finance Department. As a result, these amounts were not included in the adopted FY 2021-22 budget. Staff is requesting to add these respective ...
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