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HomeMy WebLinkAbout176 - 12/07/1999 - APPROPRIATING UNANTICIPATED REVENUE IN THE BENEFITS FUND TO COVER MEDICAL INSURANCE CLAIMS AND OTHER ORDINANCE NO. 176, 1999 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE BENEFITS FUND TO COVER MEDICAL INSURANCE CLAIMS AND OTHER EXPENSES WHEREAS,the City of Fort Collins, through the Benefits Fund, provides employees with a full flexible benefit package including choices in insurance plans for health, life, vision, dental, long-term disability,and accidental death and dismemberment insurance;health care and dependent care reimbursement accounts; employee assistance program: and other benefits; and WHEREAS, the City is self-insured for employee health care benefits, collecting revenues associated with providing medical insurance to employees and budgets for the payment of all medical insurance claims, including administration costs for claims processing; and WHEREAS,for 1999,Benefits Fund expenditures are projected to exceed the appropriations budgeted by $250,000, and revenues collected are projected to exceed estimated revenue by $350,000; and WHEREAS, staff is recommending that an additional $250,000 be appropriated from unanticipated revenue in the Benefits Fund to be used to cover the additional expenditures projected through year-end; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins(the "Charter") permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year,provided that the total amount of such appropriations, in combination with all previous appropriations for that fiscal year,do not exceed the then current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, it is the desire of City Council to appropriate the sum of $250,000 from unanticipated revenue in the Benefits Fund to be used to cover the additional expenditures projected through year-end 1999. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the Benefits Fund, the sum of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000), representing Benefits Fund revenue received,in excess of projections,to be used to cover additional expenditures projected through year-end 1999. introduced, ished this 6th day 1999,and to be presented for final passage onthe7th day of December,IDecember A.D. 1999f November,A.D..D. first d ordered Mayor ATTEST: City Clerk Passed and adopted on final reading this 7th day of December. A.D. 1999. Ma`or ATTEST: -66 City Clerk