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Board appropriates varied insurance proceeds to departmental budgets
Summary
The board authorized appropriations for multiple departments to use insurance recoveries for repairs unrelated to the February hailstorm; staff said there is no general fund impact.
The Fort Smith Board of Directors approved an ordinance authorizing appropriation of insurance proceeds for several city departments, amending the 2025 operating budget.
Chief Financial Officer Andy Richards said the appropriations are for a number of independent insurance claims aside from the recent hailstorm; deposits and corresponding expenditures will be booked so departments can complete repairs. Richards said the appropriations do not affect fund balances because the insurance receipts will be matched by related expenditures.
No members of the public signed up to speak on the item. The board approved the ordinance by roll call.
Staff said departments will use the proceeds for identified repairs and will report expenditures as usual in quarterly financial statements.
