HomeMy WebLinkAbout146 - 11/21/1989 - APPROPRIATING PRIOR YEAR RESERVES IN THE BENEFITS FUND (FOR INCREASED COSTS AND CLAIMS IN THE AREA O ORDINANCE NO. 146, 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE BENEFITS FUND
WHEREAS, Article V, Section 8, of the Charter of the City of Fort
Collins authorizes the City Council to provide by ordinance for payment of
any expense from prior year reserves at any time such reserves are
available; and
WHEREAS, the Benefits Fund is experiencing increased costs and
increased claims in the area of medical insurance; and
WHEREAS, additional funds in the amount of $424,894 are needed to
keep the Benefits Fund solvent through 1989; and
WHEREAS, funds are available in Benefits Fund Prior Year Reserves.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from prior year
reserves in the Benefits Fund the sum of FOUR HUNDRED TWENTY-FOUR THOUSAND
EIGHT HUNDRED NINETY-FOUR DOLLARS (E424,894) for Benefits Fund increased
costs and claims in the area of medical insurance.
Introduced, considered favorably on first reading, and ordered
published this 7th day of November, A.D. 1989, and to be presented for
final passage on the 21st day of November, A.D. 1989.
Al
ayor
ATTEST: (r
City Clerk
Passed and adopted on final reading this, 21st day of November, A.D.
1989.
Mayor
AT EST:
City Clerk