RESOLUTION - Transfer of Post Employment Benefit Funds paying a portion of retiree health costs
CITY OF DANIA BEACH
Agenda Request Item
Type of Request: Adopt Resolution
(Adopt Resolution, Adopt Ordinance (1st Reading) Adopt Ordinance (2nd Reading)
Award Bid /RFP, Presentation, Public Hearing)
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Requested Action (Identify appropriate Action or Motion) |
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Motion to approve Resolution |
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Description of Action |
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The Finance Department recommends and the Administration supports, that $400,000.000 in available funding in the City’s OPEB Trust (Other Post Employment Benefit) be transferred to the City General Fund to pay for costs of retiree health care incurred through the fiscal year ending 9/30/13. |
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Purchasing Requests ONLY |
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Fund: (Select from: General, Water, Sewer, Stormwater, Grants, Capital) |
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Fiscal Impact/Cost Summary |
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Provides $400,000.00 of available OPEB Trust investment funds to the City General Fund where costs of retiree health for the 9/30/13 fiscal year totaled more than $790,000.00. |
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Exhibits Attached |
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Memo, Resolution, OPEB Investment account summary |
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