NUMB:
990925
VERS:
SUBSTITUTE 1
REF:
XXBY:
THE CHAIR
TITL:
Substitute resolution reserving up to $1.25 million within the 1999 Common Council Contingent Fund for the Worker's Compensation Special Purpose Account.
ANLS:
- Analysis -
This resolution:
1. Reserves up to $1.25 million within the 1999 Common Council Contingent Fund for the Worker's Compensation Special Purpose Account to be used to fund incurred and obligatory worker's compensation claims and a revenue cash flow shortfall.
2. Authorizes and directs the City Comptroller to transfer up to the reserved amount from the Contingent Fund to the special sub-class under the control of the Department of Employe Relations - Employe Benefits Division, for expenditure for this purpose.
BODY:
Whereas, The 1999 Department of Employe Relations budget anticipated a 3.66% increase over the 1998 projected expenditures for worker's compensation claims involving medical and indemnity claims; and
Whereas, Expenditure for medical claims in 1999 have been 48% higher than in 1998; and
Whereas, This increase in medical claims results in an unanticipated increase in payments of $941,755; and
Whereas, Milwaukee Public Schools, Milwaukee Water Works and the Department of Public Works-Parking Fund reimburse the city for worker's compensation claims, but reimbursement for December 1999 will not be billed by the city until early January 2000; and
Whereas, These 3 agencies have an anticipated worker's compensation amount expected to total $274,000; and
Whereas, This amount must also be paid by the city from the Worker's Compensation Special Purpose Account until payment is received from these agencies; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $1.25 million shall be reserved within the 1999 Common Council Contingent Fund (Account No. 0001-9990-0001-C001) for the Worker's Compensation Special Purpose Account for payment of incurred and obligatory worker's compensation claims and a revenue cash flow shortfall; and, be it
Further Resolved, That the City Comptroller is authorized and directed to transfer up to the reserved amount of $1.25 million from the Contingent Fund sub-class C001 to the special sub-class S176 under control of the Department of Employe Relations-Employe Benefits Division for expenditure for this purpose on an as-needed basis.
ZDPT:
DER-Employe Benefits Division
DFTR:
99362-1
lme
10/6/99