Laserfiche WebLink
City of San Leandro <br />Meeting Date: March 6, 2017 <br />Resolution - Council <br />Agenda Section:File Number:17-094 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:RESOLUTION Authorizing Staff to Transfer $6.2M for the Purpose of Funding <br />the City’s Post-Retirement Health Care Plan Trust Administered by Public <br />Agency Retirement Services (PARS) from the City's General Fund <br />Unrestricted Reserves <br />WHEREAS, On September 21, 2015, the City Council adopted a Prioritizing Unfunded <br />Liability Liquidation (PULL) Plan with a 5-year goal of allocating $5,000,000 toward reducing <br />unfunded liabilities; and <br /> <br /> WHEREAS, the PULL Plan calls for the City to direct up to 50% of all annual General <br />Fund carryover toward funding of unfunded liabilities; and <br /> <br />WHEREAS, 50% of the General Fund carryover from Fiscal Year 2015-16 equates to <br />$6,200,000; and <br /> <br />WHEREAS, the City Manager recommends approval of said transfer to PARS. <br /> <br />NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br />follows: <br /> <br />That the City shall transfer $6,200,000 for the purpose of funding the City’s <br />post-retirement health care plan trust administered by Public Agency Retirement Services <br />(PARS) from the City's General Fund Unrestricted Reserves. <br /> <br />Page 1 City of San Leandro Printed on 2/28/2017 <br />175