HomeMy WebLinkAboutRES CC 2011 2992 2011 0119RESOLUTION NO. 2011 -2992
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2010/11 BUDGET TO APPROVE CERTAIN
APPROPRIATIONS REQUIRED TO FUND OTHER POST -
EMPLOYMENT BENEFITS (OPEB) AS DEFINED HEREIN
WHEREAS, on June 16, 2010, the City Council adopted the Budget for fiscal year
2010/11; and
WHEREAS, on January 19, 2011, a staff report has been presented to the City
Council summarizing the actuarial study relating to (OPEB) in compliance with
Government Accounting Standards Board Statement No. 45 (GASB 45); and
WHEREAS, said staff report has been presented to the City Council providing the
cost of accrued and unfunded liability as of June 30, 2010 of $103,000; and
WHEREAS, the same staff report has been presented to the City Council
recommending the pre- funding of the unfunded liability of $103,000 into an irrevocable
trust managed by CaIPERS under their California Employers' Retiree Benefit Trust
(CERBT); and
WHEREAS, on January 19, 2011 a staff report has been presented to the City
Council requesting an aggregate appropriation increase of $103,000 in the General Fund
for the pre- funding of the $103,000 unfunded liability; and
WHEREAS, Exhibit "A ", attached hereto and made a part hereof, describes said
budget amendments and its resultant impacts to the budget line item(s).
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. That a Budget Amendment in the aggregate increase of $103,000, as
more particularly described in Exhibit "A ", is hereby approved.
Resolution No. 2011 -2992
Page 2
SECTION 2. The City Clerk shall certify to the adoption of this resolution and shall
cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 19th day of January, 2011.
ATTEST:
Maureen Benson, City Clerk
Attachment: Exhibit'A': Budget Appropriation
an ce S. Parvin, Mayor
Resolution No. 2011 -2992
Page 3
Exhibit A
Budget Amendment to
General Fund for Other Post
Employment Benefits (OPEB) Payments
FY 2010/11
A. Fund Allocation
Fund
Account
Amount
1000 General Fund
1000 -5500
$103,000
Revision
Total
$103,000
B. Distribution of Appropriation to Expenditure Accounts
Current
Amended
Account Number
Budget
Revision
Budget
1000 -9030
$0
$103,000
$103,000
Total
$103,000
Resolution No. 2011 -2992
Page 4
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
I, Maureen Benson, City Clerk of the City of Moorpark, California, do hereby
certify under penalty of perjury that the foregoing Resolution No. 2011 -2992 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the
19th day of January, 2011, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Millhouse, Pollock, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
2011.
WITNESS my hand and the official seal of said City this 2nd day of February,
Maureen Benson, City Clerk
(seal)