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IN THE CITY COUNCIL OF THE CTTY OF SAN LEANDRO <br />RESOLUTION N0.2004-093 (1051) <br />RESOLUTION APPROPRIATING FUNDS FROM <br />THE RESERVE FOR ECONOMIC UNCERTAINTIES <br />TO BRING THE FISCAL YEAR 2002-03 GENERAL FUND INTO BALANCE <br />WHEREAS, the City fiscal year ends June 30t1i of each year and adjustments are made to <br />recognize expenditures and transfers during the year-end close process; <br />WHEREAS, the City is self-insured for Worker's Compensation exposures up to $350,000 <br />and places funds in a reserve to cover the expected value of losses under the self-insured program; <br />WHEREAS, an actuarial analysis recommended additional funding of the Worker's <br />Compensation reserve for fiscal year 2002-03; <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br />That $965,000 be appropriated from the Reserve for Economic Uncertainty to balance the <br />fiscal year 2002-03 General Fund to cover the unanticipated cost of funding the Worker's <br />Compensation reserve. <br />Introduced by Councilmember Badger and passed and adopted this 21st day of June, 2004, <br />by the following called vote: <br />Members of the Council: <br />AYES: Councilmembers Badger, Glaze, Grant, Nardine, Santos, Stephens; Mayor Young (7) <br />NOES : None (0) <br />ABSENT: None (0) <br />ATTEST: <br />Marian Handa, City Clerk <br />