HomeMy WebLinkAboutRes1997-146
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Sponsored by: Garzini
CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-146
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, APPROVING THE TRANSFER OF AML/JIA CREDITS AND
DIVIDEND MONIES TO THE GENERAL FUND FUND BALANCE
DESIGNA TED FOR THE AML/JIA AND THE LAW ENFORCEMENT
LIABILITY POOLS AND APPROPRIATING FUNDS FOR THE FY 1994
LELP ASSESSMENT
WHEREAS, each year, the AML/JIA adjusts the City's insurance contributions based on the
prior year's audited financial reports and based on the loss experience of the City and other members
of the pool; and
WHEREAS, the City has received credit adjustments and an additional LELP assessment in
addition to a dividend of $51,165, II from the FY 1990 pool experience for a total credit and dividend
amount of$93,268.11; and
WHEREAS, it is recommended to hold the credit and dividends as a portion of the General
Fund fund balance designated for the AML/JIA and the LELP pools; and
WHEREAS, it is recommended that the funding for the assessment of$61,256, which was
based on the City's loss experience from FY 1994, come from the General Fund fund balance
designated for the AML/JIA and the LELP pools; and
WHEREAS, it is recommended that the City fund General Fund fund balance designated for
the AML/JIA and LELP pools to a comfortable level of $250,000 over the next several years;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The $61,256 FY 1994 LELP assessment is hereby transferred from the General
Fund fund balance designated for the AML/JIA and LELP pools, Account No, 101-0000-3040 to the
General Fund undesignated Fund Balance, Account No, 101-0000-3050 and appropriated from the
General Fund fund balance Account No, 101-0000-3050 to the Police Department Jail Insurance,
Account No, 101-1211-5370,
Section 2. The $19,590 FY 1996 LELP credit, $9,517 FY 1997 LELP credit, $12,996 FY
1996 experience audit credit and the $51,165.11 FY 1990 dividend from the General Fund
undesignated fund balance Account No, 101-0000-3050 is hereby transferred to the General Fund
fund balance designated for the AML/JIA and LELP pools, Account No. 101-0000-3040.
CITY OF SEWARD, ALASKA
RESOLUTION NO. 97-146
Section 3. This resolution shall take effect immediately upon its adoption,
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 25 day
of August, 1997,
THE CITY OF SEWARD, ALASKA
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AYES:
NOES:
ABSENT:
ABSTAIN:
Anderson, Bencardino, Blatchford, Clark, Crane, Keil, King
None
None
None
ATTEST:
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"t"'~~_-=:::'~
Patricia J Jones, CMC
Acting City Clerk
(City Seal)
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