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City finance outlines insurance deductibles, FEMA process and project accounting for recovery costs
Summary
Finance staff said the city has started project accounting for claims, will inspect municipal losses with adjusters and expects FEMA public‑assistance reimbursement processes to take months to years; insurance deductibles include a $10,000 tree deductible and a $50,000 property deductible.
The city’s finance staff described the insurance, FEMA and accounting steps that must follow the tornado.
Staff established a project accounting system to log city expenses, mutual‑aid bills and donated resources, because FEMA and state processes require detailed documentation. The finance office will inspect city‑owned property with insurance adjusters and inventory…
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