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File #: 050839    Version: 0
Type: Resolution Status: Passed
File created: 10/18/2005 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 11/15/2005
Effective date:    
Title: Resolution transferring $61,000 from the 2005 Common Council Contingent Fund to the Long Term Disability Special Purpose Account.
Sponsors: THE CHAIR
Indexes: BUDGET, CONTINGENT FUND, DISABILITY BENEFITS
Attachments: 1. Premium Payments for 2005.PDF, 2. Premium Calculation.pdf, 3. Fiscal Note.pdf, 4. DER Cover Letter.pdf, 5. Reply from DOA - Budget and Management Division, 6. Fiscal Analysis

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