HomeMy WebLinkAbout048 06
'~C\. ftVvJ S
. e:5 7/.Jy/O&
IITu..~.
State of Washington
County of Jefferson
In the Matter of Maintaining }
a Positive Balance in the Employee }
Benefit Reserve Fund }
RESOLUTION NO 48-06
WHEREAS, there are certain medical expenses that the County is required to pay
for retired law enforcement officers that were part of the LEOFF I retirement system;
and,
WHEREAS, these expenses are paid from the Employee Benefit Reserve Fund
(#505-000-010), an internal service fund, along with other employee expenses such as the
Employee Assistance Program fees, and fees from the Department of Retirement
Systems; and,
WHEREAS, the Employee Benefit Reserve Fund has been experiencing expenses
greater than the revenues that accrue to it through the fee assessed on all positions; and,
WHEREAS, after a review of other internal service funds, it has been determined
that the balance in the Jefferson County Unemployment Reserve Fund (#503-000-010) is
at a level that is more than adequate to maintain the 10% reserve required, meet
anticipated claims against the fund and maintain an adequate balance; and,
WHEREAS, the Board of County Commissioners recognizes the need to pay the
required reimbursements to LEOFF I Retirees and have determined that it is in the best
interest of Jefferson County that these payments continue to be made from the Employee
Benefit Reserve Fund.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Jefferson County
Commissioners that the County Treasurer be and is hereby authorized to transfer monies
from the Unemployment Reserve Fund # 503-000-010 in the amount of $50,000 to the
Employee Benefit Reserve Fund #505-000-010 to provide the funds necessary to meet
the expenses being paid from this fund.
BE IT FINALLY RESOL VED, that the disclosure for transfer of such monies
shall be made as an Equity Transfer on the County's Annual Financial Statements.
,--~~~"'~ ot., _~
", ;t;,y ~ c D ,~"
. '.., 'If",
, .',
" .-, . J>'
. e;
11.
. --
~ ,11:'
. '/'I
.. '"
~ ~
Phil J ohnso, hairman 7 J ck
d~~~
~b&
Patrick M. Rodgers, Member -
'y_ , .." 1\
..\..".4,..... f
\,~...,. . ~;""'"_~=:::;~ ~ ~:>/" it
"-A tT~~t-~:?/
CjJ)c"la/ll~, 0n( C
~lie Matthes, CMC
Deputy Clerk ofthe Board