Number
121758
Version
SUBSTITUTE 1
Reference
121597
Sponsor
THE CHAIR
Title
Substitute resolution authorizing the transfer of up to $6,000,000 from the 2013 HMO Special Purpose Account to the Employee Health Care Benefit and Workers' Compensation Liability Reserve Fund.
Analysis
This resolution authorizes the transfer of up to $6,000,000 from the 2013 HMO Special Purpose Account to the Employee Health Care Benefit and Workers' Compensation Liability Reserve Fund to provide funding for the payment of future unanticipated premiums or liability claims for workers' compensation and health care benefits.
Body
Whereas, The City of Milwaukee's employee health and workers' compensation benefits are self-funded, with the City assuming the risk of all unanticipated costs; and
Whereas, Common Council File Number 121597 establishes the Employee Health Care Benefit Liability and Workers' Compensation Reserve Fund to provide funding for the payment of future unanticipated premiums or liability claims for workers' compensation and health care benefits; and
Whereas, The 2013 HMO Special Purpose Account has up to $6,000,000 available for transfer to the Employee Health Care Benefit Liability and Workers' Compensation Reserve Fund; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $6,000,000 shall be transferred from the 2013 HMO Special Purpose Account (#0001-1650-S140-006100) to the Employee Health Care Benefit Liability and Workers' Compensation Reserve Fund; and, be it
Further Resolved, That the City Comptroller is authorized to establish the necessary accounts and accounting procedures to carry out the intent of his resolution.
Requestor
DOA-Budget and Management Division
Drafter
LRB146123-2
Jim Carroll
5/7/13