NUMB:
970686
VERS:
SUBSTITUTE 2
REF:
XXBY:
THE CHAIR
TITL:
Substitute resolution appropriating monies from the 1997 Common Council Contingent Fund to the 1997 FSA Medical Care Account and authorizing the expenditure of these funds.
ANLS:
- Analysis -
This resolution authorizes and directs the City Comptroller to transfer $68,000 from the 1997 Common Council Contingent Fund to the FSA Medical Care Account for the purpose of covering projected 1997 reimbursements from the FSA Medical Care Account. It also directs the City Comptroller to reserve an additional $39,000 from the 1997 Common Council Contingent Fund for possible future transfer to the FSA Medical Care Account. In addition, this resolution authorizes the Department of Employe Relations to expend the transferred funds in accordance with the purposes of the FSA Medical Care Account.
BODY:
Whereas, The adopted 1997 City Budget provides $110,000 for the FSA Medical Care Account (account number 01-037-8001); and
Whereas, Employe participation in the FSA Medical Care program in 1997 has been greater than anticipated; and
Whereas, As of September 9, 1997, the balance in the FSA Medical Care Account was $1,049; and
Whereas, 1997 medical care reimbursement claims may legally be made until March 31, 1998; and
Whereas, During the first 37 weeks of 1997, reimbursements paid out from this account averaged $2,336 per week; and
Whereas, Assuming that this rate of reimbursement remains constant until March 31, 1998, the $1,049 balance will be depleted and an additional $68,000 will be needed to meet 1997 reimbursement requirements payable from September 9, 1997, to March 31, 1998; and
Whereas, The Department of Employe Relations believes that a Common Council Contingent Fund appropriation of $107,000 is needed to cover 100% of the 1997 contributions which employes may potentially claim; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that th...
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