HomeMy WebLinkAboutRes1999-114
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-114
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, TRANSFERRING THE ALASKA MUNICIPAL LEAGUE JOINT
INSURANCE ASSOCIATION (AML/JIA) DIVIDEND AND CREDITS
TOTALING $156,477 TO THE GENERAL FUND FUND BALANCE
DESIGNATED FOR INSURANCE RESERVES
WHEREAS, the Alaska Municipal League Joint Insurance Association (AML/JIA) has
declared and paid to its participating members a dividend in the amount of $71,574 from the
insurance pool; and
WHEREAS, the AML/JIA is an experienced-based pooling program which analyzes loss
history each year and then applies the appropriate charge or credit to each participant's account,
based on their actual experience in the pool; and
WHEREAS, the City has received a credit of$9,193 for the FY 98 Core Program; and
WHEREAS, the City of Seward also participates in the Law Enforcement Liability Pool
(LELP) sponsored by the AML/JIA for the provision of law enforcement coverage; and
WHEREAS, the City has received a retroactive credit for FY 94 in the amount of $55,394
and for FY 98 in the amount of $20,316 for the LELP Program; and
WHEREAS, the City of Seward designates a portion of the General Fund fund bal(l1lce as
an insurance reserve to account for additional insurance charges and credits to help fund unexpected,
uninsured claims, insurance deductibles and insurance pool assessments; and
WHEREAS, it is the desire ofthe City to continue to fund the insurance reserve account to
an amount sufficient to offset any unexpected, uninsured claims, insurance deductibles and insurance
pool assessments.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OFTHE CITY
OF SEWARD, ALASKA, that:
Section 1. The AML/JIA dividend in the amount of $71,574, the FY 94 LELP
retrospective credit in the amount of $55,394, the FY 98 LELP retrospective credit in the amount
of $20,316 and the FY 98 core program retrospective credit in the amount of $9,193 be
transferred from the General Fund fund balance, account no. 101-0000-3050 to the General Fund
CITY OF SEWARD, ALASKA
RESOLUTION NO. 99-114
fund balance designated for insurance reserves, account no. 101-0000-3040, effective June 30,
1999.
Section 3. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council ofthe city of Seward, Alaska, this 23 day
of August, 1999.
THE CITY OF SEWARD, ALASKA
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Lowell R. Satin, Mayor
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, King, Orr, Satin
None
Shafer
None
ATTEST:
~<t2C/ ~
Patrick Reilly
City Clerlr ,....""
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