CC RES 2009-088 RESOLUTION NO. 2009-88
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES, AMENDING RESOLUTION 2009-40, THE BUDGET
APPROPRIATION FOR FISCAL YEAR 2009-10, FOR A BUDGET
ADJUSTMENT TO THE CITY'S GENERAL FUND AND EMPLOYEE BENEFITS
FUND.
WHEREAS, Section 3.32 of the Rancho Palos Verdes Municipal Code provides that all
expenditures in excess of budgeted allocations must be by supplemental appropriation of
the City Council; and
WHEREAS, on June 30, 2009, the City Council of the City of Rancho Palos Verdes
adopted Resolution 2009-40, approving a spending plan and authorizing a budget
appropriation for the 2009-10 fiscal year; and
WHEREAS, on March 24, 2007, the City Council approved implementation of a retirement
health savings plan; and
WHEREAS, beginning January 2008, the City's contribution to employees' retirement
health savings accounts was included in the annual operating budget; and
WHEREAS, savings were realized for fiscal years 2007-08 and 2008-09, as the plan had
not yet been implemented; and
WHEREAS, the City Council desires to re-appropriate the City's contribution to
employees' retirement health savings accounts retroactively for January 2008 through
December 2009; and
WHEREAS, the City Council elects to contribute a one-time amount not to exceed $2,665
for each account per eligible employee based on the time which they were employed
during the retroactive period beginning January 1, 2008; and
WHEREAS, the City Council authorizes an ongoing monthly contribution on a pre-tax
basis to an employee retirement health savings Plan ("the Plan"), in an amount equal to
$51.65 per pay period per employee, which amount shall increase by the Year Ended
March Consumer Price Index for Los Angeles County at the beginning of each fiscal year;
WHEREAS, during the life of this Plan, the City shall withhold a pre-tax contribution of one
percent of gross annual salary for all employees covered by the Plan and deposit the
withholding to an employee health benefits trust. The purpose of this trust shall be to
provide for retiree health expense reimbursement benefits; and
WHEREAS, the City acknowledges receipt of the VEBA Trust Agreement governing the
Trust and will comply with rules set in regard to reporting and depositing the required
contributions set forth above;
BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES:
The following adjustments are made to the:
GENERAL FUND
Operating Transfers Out 101-6000-491-91-00 $94,125
EMPLOYEE BENEFITS FUND
Operating Transfers In 685-1015-391-10-00 $94,125
Retirement Health Savings Contributions 685-1015-499-28-00 $94,125
PASSED, APPROVED, AND ADOPTED THIS 17th DAY OF NOVEMBER 2009.
ayor
ATTEST:
_ .,. //_ _
City Clerk
State of California )
County of Los Angeles )ss
City of Rancho Palos Verdes )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, hereby certify that the
above Resolution No. 2009-88 was duly and regularly passed and adopted by the said
City Council at a regular meeting thereof held on November 17, 2009.
City Clerk
Resolution No. 2009-88
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