HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 12/07/1999 - SECOND READING OF ORDINANCE NO. 176, 1999, APPROPR AGENDA ITEM SUMMARY ITEM NUMBER: 8
DATE: December 7, 1999
FORT COLLINS CITY COUNCIL STAFF: Rick DeLacastro
SUBJECT :
III Second Reading of Ordinance No. 176, 1999,Appropriating Unanticipated Revenue in the Benefits
Fund to Cover Medical Insurance Claims and Other Expenses.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
Ordinance No. 176, 1999,which was unanimously adopted on First Reading onNovember 16, 1999.
appropriates revenue received in the Benefit Fund to cover estimated costs of medical claims and
benefit expenses in 1999.
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AGENDA ITEM SUMMARY ITEM NUMBER: 15
DATE: November 16, 1999
. FORT COLLINS CITY COUNCIL
STAFF: Rick DeLacastro
SUBJECT:
First Reading of Ordinance No. 176, 1999, Appropriating Unanticipated Revenue in the Benefits
Fund to Cover Medical Insurance Claims and Other Expenses.
RECOMMENDATION:
Staff recommends adoption of the Ordinance 0 First Reading.
FINANCIAL IMPACT:
This Ordinance increases the 1999 Benefits Fund appropriations by$250.000 to cover medical claim
costs and other benefit expenses. Funding for these appropriations is comprised of unanticipated
revenue in the Benefits Fund, es?to gaFim- ,5a,iopr 'ion from prior year reserves.
Current budget projections indicate reve a 5D exceed"expenditures by approximately
$650,000 in 1999. However,prc jected*efit�ndexpenditu es will exceed previously estimated
expenditures by approximately $`2'.u;000.'`='` _
EXECUTIVE SUMMARY:
This Ordinance appropriates revenue received in the Benefit Fund to cover estimated costs of
medical claims and benefit expenses in 1999. The remaining $400,000 in revenues received in the
Benefit Fund will be retained to augment tan esetyes4i future unanticipated medical claims. In
addition, changes are being made to te:2000 nbfit plans\to 4crease revenues from employee
contributions. This change is�expected�d forth ei!ihance the Benefit Fund reserves standing.