HomeMy WebLinkAboutRes2021-045 CITY OF SEWARD,ALASKA
RESOLUTION 2021-045 Sponsored by: Regis
II A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, RETROACTIVELY AMENDING THE 2020 BUDGET TO
RECORD EXPENDITURES OF $395,755.48 PAID BY THE STATE OF
ALASKA ON BEHALF OF THE CITY TOWARD THE CITY'S PUBLIC
EMPLOYEES RETIREMENT SYSTEM (PERS) LIABILITY FOR THE
PERIOD JANUARY THROUGH DECEMBER, 2020, AND
APPROPRIATING FUNDS
WHEREAS, in accordance with state law, the State of Alaska Department of
Administration, Division of Retirement & Benefits (DRB) contributed $176,125.71 on behalf of
the City of Seward from January through June, 2020, representing $176,125.71 toward pension
costs and$0 toward healthcare costs; and
WHEREAS, in accordance with state law, the State of Alaska Department of
Administration, Division of Retirement & Benefits (DRB) contributed $219,629.77 on behalf of
the City of Seward from July through December, 2020, representing$219,629.77 toward pension
costs and$0 toward healthcare costs; and
WHEREAS, in accordance with generally accepted accounting principles, the City must
record payments made on its behalf, and must therefore amend the 2020 Budget to account for
both the expenditures paid on behalf of the City, and the corresponding revenues paid by the State
of Alaska Department of Administration; and
WHEREAS, failure to amend the budget to reflect the state's payments on behalf of the
City will result in a variance between the actual and budgeted revenues and expenditures, giving
the appearance of revenues and expenditures exceeding the annual budget as approved by the
Seward City Council.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD,ALASKA that:
Section 1. The Seward City Council hereby approves the 2020 Operating Budget to be
retroactively amended to appropriate State PERS On Behalf Grant Revenues on a pro-rata basis to
departments within each fund,the total amount of$395,755.48 as follows:
1. $306,531.17 from grant revenue account 01000-0000-4201 to General
Fund/department expense accounts 01000-1 xxx-6201; and
2. $46,168.15 from grant revenue account 11000-2000-5920 to Harbor Fund retirement
expense accounts 11000-X-6201; and
3. $13,950.16 from grant revenue account 15000-0000-5920 to Electric Fund retirement
expense accounts 15000-X-6201; and
CITY OF SEWARD, ALASKA
RESOLUTION 2021-045
esJ
4. $16,690.93 from grant revenue account 17000-0000-5920 to Water Fund retirement
expense accounts 17000-X-6201; and
5. $12,415.07 from grant revenue account 18000-0000-5920 to Wastewater Fund
retirement expense accounts 18000-X-6201.
Section 2.This resolution shall be retroactive to December 31, 2020.
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND APPROVED by the City Council of the City of Seward, Alaska, this 12th
day of April, 2021.
TH I OF WARD, ALASKA
risty Terr , Mayo
1
AYES: Osenga, Casagranda, DeMoss, McClure, Terry
NOES: None
ABSENT: Seese, Baclaan
ABSTAIN: None
ATTEST:
C M C
Brenda J. Ballou, MMC A , ;„ g C y C
City Clerk
(City Seal)
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Council Agenda Statement
Meeting Date: April 12, 2021
s
Through: Norm Regis, Acting City Manager ZV'
From: Sam Hickok, Deputy Finance Director
Agenda Item: State of Alaska PERS on-behalf contributions of$395,755.48 for January
through December 2020
BACKGROUND & JUSTIFICATION:
The State of Alaska Public Employees Retirement System appropriated$395,755.48 directly to PERS
on behalf of the City of Seward to help offset retirement liability costs to local taxpayers for the period
January 1 through December 31, 2020.
While the funds did not come directly through the City, we are required to account for the State's
contribution as both revenue and an expense/expenditure on the City's financial statements.
In 2008,Senate Bill 125 was passed,capping the annual PERS contribution rates for employers at 22%,
and creating a cost-sharing plan in which all employers pay the same employer contribution rate.This
was a departure from the previous plan, in which every employer was assigned a different employer
cost rate, depending on their individual experience.
INTENT:
The intent of this action is to retroactively amend the 2020 budget to account for state contribution on
behalf of the City for contributions to the public employee's retirement system for the period January
through December 2020.
CONSISTENCY CHECKLIST: Yes No NIA
1. Comprehensive Plan (document source here): X
2. Strategic Plan (document source here): X
3. Other (list): X
ATTORNEY REVIEW: Yes X No
FISCAL NOTE:
The State's contribution of$395,755.48 is considered a state grant award and is recognized as such on
the City's financial statements,with an equivalent amount recorded as retirement expense/expenditure,
allocated on a pro-rata basis, to each department's operating budget.
Approved by Finance Department: C � `
RECOMMENDATION:
Council approve Resolution 2021- 0 45 , retroactively amending the 2020 Operating Budget by
appropriating$395,755.48 from state grant revenues,to various fund retirement expense accounts,on a
pro-rata basis.
112
PIERS On-Behalf Allocation 2020
Balance To PIERS On-
Date behalf 2020
01000 0900 6201 0000 00000 Retirement Benefits 497,471.95 46.2% 182,653.95
01000 1111 6201 0010 00000 Retirement Benefits PACAB 614.14 0.1% 225.49
01000 1111 6201 0011 00000 Retirement Benefits Hist Pres 984.83 0.1% 361.59
01000 1111 6201 0012 00000 Retirement Benefits P&Z 2,110.79 0.2% 775.01
01000 1113 6201 0000 00000 Retirement Benefits 11,779.36 1.1% 4,324.96
01000 1113 6201 0000 99999 Retirement Benefits 59.13 0.0% 21.71
01000 1120 6201 0000 00000 Retirement Benefits 20,834.15 1.9% 7,649.56
01000 1121 6201 0000 00000 Retirement Benefits 19,686.38 1.8% 7,228.14
01000 1121 6201 0007 00000 Retirement Benefits 291.88 0.0% 107.17
01000 1122 6201 0000 00000 Retirement Benefits 13,274.15 1.2% 4,873.79
01000 1140 6201 0000 00000 Retirement Benefits 31,843.61 3.0% 11,691.84
01000 1140 6201 0038 00000 Retirement Benefits 97.60 0.0% 35.84
01000 1210 6201 0000 00000 Retirement Benefits 19,040.76 1.8% 6,991.09
01000 1211 6201 0000 00000 Retirement Benefits 7,540.42 0.7% 2,768.57
01000 1212 6201 0000 00000 Retirement Benefits 8,981.75 0.8% 3,297.78
01000 1220 6201 0000 00000 Retirement Benefits 5,620.27 0.5% 2,063.56
01000 1250 6201 0000 00000 Retirement Benefits 3,537.85 0.3% 1,298.97
01000 1310 6201 0000 00000 Retirement Benefits 10,217.65 0.9% 3,751.56
01000 1310 6201 0030 00000 Retirement Benefits 232.84 0.0% 85.49
01000 1310 6201 0031 00000 Retirement Benefits 935.37 0.1% 343.43
01000 1311 6201 0000 00000 Retirement Benefits 7,343.10 0.7% 2,696.12
01000 1312 6201 0000 00000 Retirement Benefits 5,214.60 0.5% 1,914.62
01000 1350 6201 0000 00000 Retirement Benefits 6,013.35 0.6% 2,207.89
01000 1400 6201 0000 00000 Retirement Benefits 9,548.30 0.9% 3,505.80
01000 1410 6201 0000 00000 Retirement Benefits 1,825.28 0.2% 670.18
01000 1411 6201 0000 00000 Retirement Benefits 6,624.62 0.6% 2,432.32
01000 1412 6201 0000 00000 Retirement Benefits 11.43 0.0% 4.20
01000 1420 6201 0000 00000 Retirement Benefits 6,739.63 0.6% 2,474.55
01000 1420 6201 9509 00000 Retirement Benefits 1.16 0.0% 0.43
01000 1420 6201 9514 00000 Retirement Benefits 607.75 0.1% 223.14
01000 1420 6201 9518 00000 Retirement Benefits 16.20 0.0% 5.95
01000 1420 6201 9521 00000 Retirement Benefits 1.16 0.0% 0.43
01000 1420 6201 9534 00000 Retirement Benefits 32.36 0.0% 11.88
01000 1420 6201 9535 00000 Retirement Benefits 26.78 0.0% 9.83
01000 1430 6201 0000 00000 Retirement Benefits 1.74 0.0% 0.64
01000 1430 6201 9501 00000 Retirement Benefits 36.56 0.0% 13.42
01000 1431 6201 0000 00000 Retirement Benefits 334.07 0.0% 122.66
01000 1431 6201 9505 00000 Retirement Benefits 151.56 0.0% 55.65
01000 1500 6201 0000 00000 Retirement Benefits 24,232.14 2.2% 8,897.18 306,531.18
11000 0900 6201 0000 00000 Retirement Benefits 85,283.32 7.9% 31,312.99
11000 2000 6201 0000 00000 Retirement Benefits -15851.49 -1.5% -5820.10
11000 2001 6201 0000 00000 Retirement Benefits 23,161.52 2.1% 8,504.08
11000 2002 6201 0000 00000 Retirement Benefits 23,627.65 2.2% 8,675.23
11000 2003 6201 0000 00000 Retirement Benefits 1,443.68 0.1% 530.07
11000 2004 6201 0000 00000 Retirement Benefits 5,836.05 0.5% 2,142.79
11000 2005 6201 0000 00000 Retirement Benefits 2,241.74 0.2% 823.09 46,168.15
15000 0900 6201 0000 00000 Retirement Benefits 20,882.04 1.9% 7,667.14
15000 3001 6201 0000 00000 Retirement Benefits 17,112.29 1.6% 6,283.02 13,950.16
17000 0900 6201 0000 00000 Retirement Benefits 26,662.76 2.5% 9,789.61
17000 4000 6201 0000 00000 Retirement Benefits 18,780.87 1.7% 6,895.67
17000 4002 6201 0000 00000 Retirement Benefits 15.38 0.0% 5.65 16,690.93
18000 0900 6201 0000 00000 Retirement Benefits 26,735.70 2.5% 9,816.40
18000 4500 6201 0000 00000 Retirement Benefits 6,986.75 0.6% 2,565.29
18000 4502 6201 0000 00000 Retirement Benefits 90.91 0.0% 33.38 12,415.06
80081 0000 6201 0000 00000 Retirement Benefits 110,944.36 10.3% 40,734.81
1,077,870.20 100.0% 395,755.48
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