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Commissioner Brown - County Attorney - To Approve Settlement to the Estate of Randall Lynn Herring ($50,000)
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STAFF CONTACT
David Goldberg - County Attorney - 704-866-3400
BUDGET IMPACT
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General Fund: Increase $50,000 revenue from assigned insurance reserves fund balance. Increase uninsured cost expenditures by $50,000.
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BACKGROUND
The Estate of Randall Lynn Herring has agreed to accept a one-time payment of $50,000 as settlement in full for claims arising from an automobile incident involving a Gaston County Police Department officer on February 24, 2024.
Per Resolution 2002-325, this settlement agreement is subject to approval by the Board of Commissioners.
Section XI of the County’s annual Budget Ordinance approves the designation of unspent funds from Insurance line items (530024) and the Insurance Deductible account (1000-NDP-000-00000-000000-0000000-0000-01-530025-) into fund balance titled “Designated for Insurance Reserves.” Designated for Insurance Reserves is the portion of General Fund assigned fund balance budgeted by the Board for future insurance expenditures and catastrophic events. As of June 30, 2024, assigned fund balance for insurance reserves inspections totaled $2,995,099.
POLICY IMPACT
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ATTACHMENTS
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