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HomeMy WebLinkAboutRes2001-104 I I I Sponsored by:~ CITY OF SEWARD, ALASKA RESOLUTION 2001-104 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, APPROVING THE TRANSFER OF $51,291 OF AMUJIA DIVIDEND MONIES FROM THE GENERAL FUND UNDESIGNATED FUND BALANCE TO THE GENERAL FUND FUND BALANCE DESIGNATED FOR INSURANCE RESERVES WHEREAS, for the fifth consecutive year, the Alaska Municipal League Joint Insurance Association (AMLIllA) has declared and paid to its participating members a dividend from the insurance pool; and WHEREAS, this year's dividend, in the amount of$51,291, has been received from the AMLIllA; and WHEREAS, the City of Seward designates a portion of the General Fund fund balance received from insurance credits and charges, as an insurance reserve; and WHEREAS, the City's goal is to fund the insurance reserve account to a minimum level of$500,000, enabling the City to benefit from higher insurance deductibles and thereby lowering its annual insurance contribution to the AML/nA insurance pool. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, that: Section 1. The City Manager is authorized to transfer the $51,291 AMLIllA dividend from the General Fund undesignated fund balance account 101-0000-3050 to the General Fund fund balance designated for insurance reserves, account 101-0000-3040. Section 2. This resolution shall take effect immediately upon its adoption. PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 27th day of August, 2001. CITY OF SEWARD, ALASKA RESOLUTION 2001-104 THE CITY OF SEWARD, ALASKA Z(!, /(~['-1) Edgar Blatchford, Mayor AYES: Blatchford, Brossow, Branson, Calhoon, Clark, Orr, Shafer NOES: None ABSENT: None ABSTAIN: None ATTEST: /~/ Patrick Reilly City Clerk",......, ~", ~ SI!!' ,I~I" ~"A..Or lii:;S (Cit~~~~............. Il~~ ~ C)~~.~ ~ ~ :~- ---- -~~ ~ =: ......... ,.:. :, lIi' \'. SEAL i.:: .' . . ~. - i I $. r, "'. ~. :IL~N.1.\~~...~1 ~1ii........~~.,. OF ~ ",~ ,."...",,~