Number
100932
Version
Substitute 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution approving the transfer of funds from the Common Council Contingent Fund to the Employee Benefits Claims Special Purpose Account and the HMO Special Purpose Account.
Body
Whereas, the Department of Employee Relations and the Budget office have determined that the current funding for the health benefits will not pay the 2010 obligations, and,
Whereas, the departments have determined that there will be a shortfall of up to $800,000 in 2010 obligations if no transfer is made, and,
Whereas, the departments have transferred unexpended funds from other accounts to the health accounts, specifically the health maintenance account special purpose account, and,
Therefore, be it resolved that the Common Council authorizes the transfer of $800,000 for the Common Council Contingent Fund (#0001-9990-C001-006300) (2010) to the Health Maintenance Special Purpose Account (0001 1650 0001 S140 006100) for the purpose of paying the 2010 obligations for health benefits for active employees, spouses and retired employees and spouses.
Drafter
DER
MB
12/09/10
Techinical Correction - 12/16/10- tb