HomeMy WebLinkAboutAgenda Statement 1981/11/17 Item 13a
COUNCIL AGENDA STATEMENT
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Item ~~
Meeting Date 11-17-81
ITEM TITLE:
Resolution /OG ~,3 Appropriating funds for Public Employees' Retirement
System Contract
SUBMITTED BY: Director of Finance
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(4/5ths Vote: Yes X No )
At he meeting of November 10, 1981, the City Council adopted Resolution
of ntention 10689 approving the Post Survivor allowance for Police Officers
eff ctive the first pay period in January, 1982, Therefore, it is my
ENDATION:
Tha the City Council adopt the attached Resolution appropriating the
nec ssary funds to implement the benefits of Sections 21263/21263.1 of
the Retirement Law.
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tDS AND COMMISSION RECOh1MENDATION: Not Applicable
DISCUSSION:
Public Employees' Retirement System has completed their actuarial
'~~uation of the Post Retirement Survivor allowance for Police members.
cost for this benefit is $44,510 for the period January 8, 1982 through
30, 1982. The retirement rate will increase from our current 14.707%
7.040% or a 2.333% increase. The total cost on an annualized basis for
'_ would be $93,660.
IMPACT:
•opriate $44,510 from the unappropriated balance of the General Fund to
following accounts to provide this benefit.
Account Amount
100-1011 $ 480
100-1012 320
100-1020 2,030
100-1030 1,010
100-1040 16,370
100-1050 6,480
100-1212 310
100-1220 320
100-1230 630
100-1240 16,560
Total $44,510
Form A-113~(Rev. 11/79)
W_._ ._ __.T ~p s,7
dated ~ `" ~ - ~,
f
Form No. F-229
12/73
CERTIFICATE OF CITY/DIRECTOR OF FINANCE
Certification of Unappropriated Balance
0:
-1011 480
-1012 320
-1020 2,030
-1030 1,010
-1040 16,370
-1050 6, 80
-1212 310
-1220 320
-1230 30
-1240 16,560
I HEREBY CERTIFY that the money required for the
appropriation of funds for the purpose set forth in the attached
resolution is available in the Treasury, or is anticipated to
come into the Treasury, and is otherwise unappropriated.
Amount $_ 44,510 Fund General Fund
Purpose _ Special Appropriation for PERS
Bidder
Director of Finance
The City of Chula Vista
Date 11 / 17/ 81 By
Certification of Unencumbered Balance
I HEREBY CERTIFY that the indebtedness and obligation
to be incurred by the contract or agreement authorized by the
attached resolution can be incurred without the violation of any
of the provisions of the Charter of the City of Chula Vista, or
the Constitution or the laws of the State of California, that
sufficient monies have been appropriated for the purpose of said
contract, that sufficient monies to meet the obligations of the
contract are actually in the Treasury, or are anticipated to come
into the Treasury to the credit of the appropriation from which
the same are to be drawn, and that said monies now actually in
the Treasury, together with the monies anticipated to come into
the Treasury, to the credit of said appropriation are otherwise
unencumbered.
Amount Not to Exceed S
Director of Finance
The City of Chula Vista
Date
Fund
Purpose
Bidder
By
Dept./Activity
Certificate No. 22
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