HomeMy WebLinkAboutAGENDA 2014 0618 CCSA REG ITEM 10EMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Ron Ahlers, Finance Director 62A_
ITEM 10.E.
DATE: June 4, 2014 (City Council Meeting of June 18, 2014)
SUBJECT: Consider Resolution to Delegate Authority to Certain Positions to
Request Disbursements from the California Employer Retirement
Benefit Trust
BACKGROUND
In June 2004, the Governmental Accounting Standards Board issued Statement No. 45
(GASB 45), the accounting standards for Other Post -Employment Benefits (OPEB).
This statement governs pubic employer accounting of any benefits, other than pensions,
promised by an employer to their employees into retirement. The purpose of GASB 45
is to provide better financial information and to ensure that the costs related to providing
employees with OPEB are accounted for over the working careers of plan members.
Implementation dates for GASB 45 are based on the size of the government as
measured by fiscal year 1998/1999 annual revenues. The City of Moorpark is a phase
2 Government with annual revenues of $10 million to $100 million. As such, the City
was required to implement the new standard as of June 30, 2009; which we did. On
September 3, 2008, the City Council decided to establish an irrevocable trust with
CalPERS under their California Employer Retiree Benefit Trust program (CERBT).
CalPERS accepted the City of Moorpark's application into CEBRT.
DISCUSSION
On September 3, 2008, the City Council delegated the authority to request
disbursements from the CERBT to the City Manager and Assistant City Manager.
CalPERS requires two authorized signatures when the disbursement request is $10,000
and greater. Because of this two signature requirement, staff is requesting the City
Council consider expanding the signature authority to these positions: City Manager or
(Assistant City Manager/Deputy City Manager) and Finance Director or (Budget &
Finance Manager). By delegating authority to multiple positions, the disbursement
process will be more efficient and effective.
M.
Honorable City Council
June 18, 2014
Page 2
FISCAL IMPACT
None.
STAFF RECOMMENDATION
Adopt Resolution No. 2014 -
Attachment: Resolution
(Roll Call Vote)
m
Attachment
RESOLUTION NO. 2014 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, DELEGATING AUTHORITY TO
CERTAIN POSITIONS TO REQUEST DISBURSEMENTS
FROM THE CALIFORNIA EMPLOYER RETIREMENT
BENEFIT TRUST
WHEREAS, on September 3, 2008, the City Council authorized an irrevocable trust
with CalPERS under the California Employer Retirement Benefit Trust (CERBT); and
WHEREAS, on September 3, 2008, the City Council authorized the City Manager
and Assistant City Manager to request disbursements from the CERBT; and
WHEREAS, on June 18, 2014, a staff report has been presented to the City
Council requesting certain positions be authorized to request disbursements from CERBT.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES
HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Council delegates to the incumbents in the positions of
City Manager or (Assistant City Manager/Deputy City Manager) and Finance Director or
(Budget & Finance Manager) authority to request on behalf of the Employer
disbursements from the Other Post Employment Prefunding Plan and to certify as to the
purpose for which the disbursed funds will be used.
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 18th day of June, 2014.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk