weather icon Clear

City’s new risk fund to cover insurance, legal issues costs

City Council took another step in its quest for transparency by unanimously approving a special risk management fund that will provide money for insurance premiums and deductibles, claims not covered by insurance and legal defense and settlement proceeds.

“Risk management begins with the realization that a government is going to eventually suffer a loss of some kind. … Having this fund will allow us to clearly see what our risk-related costs are,” said Accounting Manager Rebecca Gillis at Tuesday’s, April 28, council meeting.

The amount of this reserve will be 1 percent of the solar lease revenue and 10 percent of general fund revenue if it exceeded anticipated income in the budget from the prior fiscal year.

Gillis said with that formula the new fund would be approximately $3 million for the 2020 fiscal year and approximately $1.5 million in the 2021 fiscal year.

“I think it would be good not only for the finance department but also for transparency,” said Councilwoman Judy Hoskins.

Councilwoman Tracy Folda agreed.

“I think it’s a lot clearer … and governs where the money comes from,” she said.

She did, however, ask if funding the reserve was mandatory.

City Manager Al Noyola said if the money was part of an approved budget it would have to be funded, but the council could choose to adjust the amount of money allocated to it.

Councilwoman Claudia Bridges asked whether the money could go back into the general fund if it isn’t used.

Noyola said any unused amount would revert back to the account where it came from.

Councilman James Howard Adams agreed with Folda and said he could clearly see where the money was going to and coming from.

“For me, one of the biggest benefits here is the transparency factor,” he added.

Council also approved giving Community Development Block Grant funds to Lend A Hand of Boulder City and Emergency Aid of Boulder City. Lend A Hand will receive $9,411 and Emergency Aid will receive $26,787.

“I would just like to point out that both of these agencies right now during this state of emergency are clearly providing service to this community that would be very difficult to come by in any other way, so I can’t think of a better use of community development money than providing it to these nonprofits,” said Mayor Kiernan McManus.

The disbursement was approved 4-0, with Bridges abstaining from the vote and discussion because she said she wrote Emergency Aid’s grant proposal.

Contact reporter Celia Shortt Goodyear at cgoodyear@bouldercityreview.com or at 702-586-9401. Follow her on Twitter @csgoodyear.

Don't miss the big stories. Like us on Facebook.
Mays, Walker named acting city manager, attorney

City Council appointed its acting city attorney and acting city manager at a special meeting Wednesday afternoon.

Executive search firm to be hired

The city will be hiring an executive firm for a nationwide search to find a new city attorney and city manager in order to be more transparent with the selection process.

Early voters flock to polls

Tens of thousands of people in Clark County have already participated in early voting with more than 3,000 casting their votes in Boulder City.

Council fires city’s manager, attorney

City Council fired two leaders and has yet to appoint their replacements, leaving the city without its attorney or manager.

Municipal pool to be analyzed

Updating the Boulder City pool is back on the table after City Council unanimously approved hiring a consultant to analyze the facility to see if it can be repaired and brought up to code.

Pence asks for four more years

Vice President Mike Pence touched on all of President Donald Trump’s familiar re-election points during a campaign rally Thursday in Boulder City, with promises to uphold law and order and further expand the country’s economy garnering significant time.

Pence brings campaign to BC

Boulder City recently had a place in the 2020 national presidential campaign as Vice President Mike Pence stopped by for a visit Oct. 8.

Center dishes up more than lunch

The sound of laughter is once again echoing through the Senior Center of Boulder City as locals have returned for their weekday lunches.

New regulations allow larger social, religious gatherings

Life in Boulder City has taken another step toward returning to normal as larger gatherings are permitted and some local events can be held.