Approval of a budget adjustment in the amount of $173,431.83 to accommodate a payment from the fine art insurance claim from the October flood. (Brooks)

Initiated by:  Caroline Brooks

This request is for a budget adjustment to accommodate a payment from Huntington T. Block Insurance Agency, Inc. for three portions of the claim: 1) Artwork lost that was on loan by exhibition and consignment artists for payment to the artists to cover their losses ($126,105.88). 2) Payment for museum store resale items, including wholesale items, that were owned by the museum and lost in the flood ($44,025.95). 3) Reimbursement for appraisal services ($3,300.00).
 

Funding Source: An increase to revenue line times 2611 489100 in the amount of $173,431.83 and an increase to expense line 26114221 612500 in the amount of $173,431.83. 
Payment will be received from Huntington T. Block Insurance Agency, Inc.

There is no legal review at this time.

Approval of a budget adjustment in the amount of $173,431.83 to accommodate a payment from the fine art insurance claim from the October flood.

Approval of a budget adjustment in the amount of $173,431.83 to accommodate a payment from the fine art insurance claim from the October flood.