Number
050839
Version
ORIGINAL
Reference
Sponsor
THE CHAIR
Title
Resolution transferring $61,000 from the 2005 Common Council Contingent Fund to the Long Term Disability Special Purpose Account.
Analysis
This resolution transfers $61,000 from the 2005 Common Council Contingent Fund to the Department of Employee Relations - Long Term Disability Special (LTD) Purpose Account to cover a $61,000 shortfall created by inclusion of two additional Collective Bargaining groups for LTD eligibility that added an additional $2,365 in biweekly LTD premium liability.
Body
Whereas, The Department of Employee Relations - Long Term Disability Special Purpose Account was funded in 2005 at $562,000; and
Whereas, The Employee Benefits Division and the Budget Office agree that the projected expenditures in 2005 for Long Term Disability insurance premium payments will be at least $622,972; and
Whereas, These expenditures are non-discretionary; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that an amount not to exceed $61,000 be transferred from the Common Council Contingent Fund (001-9990-001-C001-006300-2005) to the Long Term Disability Special Purpose Account (006100-001-1654-0001-S145-2005); and, be it
Further Resolved, That the appropriate City officials are authorized and directed to take whatever steps are necessary to fulfill the intent of this resolution.
Requestor
DER - Employee Benefits
Drafter
Technical correction made on the Contingent Fund Acct, per Chris Wanty over phone conversation.
JP 11/10/05