HomeMy WebLinkAboutAgenda Statement 1977/07/05 Item 10
CITY OF CHULA VISTA
COUNCIL AGENDA STATEMENT
Item No.l~
Far meeting of ,7/5/77
ITEM TITLE
Resolution 8700: Appropriating Federal Anti-Recession Funds
SUBMITTED BY ~ Director of Finance
ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES, NO
The Public Works Employment Act of 1976 (Public Law 94--369) was passed on
July 22, 1976, effective as of July 1, 1976. Title Two of this Act,
designated as Anti-Recession Fiscal Assistance, provides for five quarterly
payments to be made to state and local governments.
At the Council meeting of April 26, 1977, $130,539 was appropriated by
Resolution No. 8609 for employer's contributions to the Public Employees
Retirement System. This amount represented the collection of our first
two quarterly payments. As recommended in our report to Council on April 26,
1977, subsequent quarterly payments should also be appropriated in the same
manner to supplement the employer's contributions to the Public Employees
Retirement System.
We now have received our third quarter payment of $86,519 and our fourth
quarter payment of $88,059. This amount, totaling $174,578, must be
committed or spent by July 8, 1977. The total amount anticipated in the
five quarters of the program is $380,117.
Agreement
Resolution x
EXHIBITS -
Ordinance
Other ENVIRONMENTAL DOCUMENT:
Plat Notification List
Attached Submitted tin
FINANCIAL IMPACT
By using Anti-Recession Funds for employer's retirement contributions, a portion
of the property tax rate allocated for retirement can be shifted to the General
Fund rate without changing our overall tax rate of $1.25. This flexibility will
enable us to meet necessary basic services in employer's retirement costs, and also
provide $380,117 in financial assistance to the General Fund.
STAFF RECOMMENDATION
It is my recommendation that our third and fourth quarter payments in the amount of
$174,578 be appropriated for employer's contributions to the Public Employees
Retirement System.
BOARD/COMMISSION RECOMMENDATION
N/A
COUNCIL ACTION
A p p R O V E D
by the
City Council
of
Chula Visto., California
Dat ed .............~~...a~?.--• ..7••~•.........,.......~.
Form No, F-229
13j 73
CERTIFICATE OF CITY/DIRECTOR OF FINANCE
Certification of. LTnapn~~opriated Balance
I HERr.BY CEP.TI~ Y t2:at the money required for t'::e
appropriation of funds for the purpcse set forth i.i tre attacYleu
resolution is available in the Treasury, or is anticipated }o
come into the Treasury, and is otherwise unappropriated.
Amount S 174,578 .~una Anti-Recession
Purpose Employer's Contributions to the Public Em loyees Retirement System
EiddeX N/A
410 4-1.9A-~4~- ~- ~''`~`" ---------~~
Director of Fin~.nce
The City of Chu]_a Vista
Date 7/25/77 BY
Certification of Unencumber?d 3alance
I HEREBY CEkTIFY that the indebtedness and ::bliyation
tc+ be incurred by the contract or agreement authorized by thr
attached resolution can ne incurred without the viclatien cif any
cf the provisions of the Charter of tale City cf Chula v:i.s%~., o.°
{:tle vaI'iStlttl%liJn Or tale lows Of theutc.te if ~ulifcr:'iia, t}i?.
sufficient monies have been appropriated for the. pur:pos<~ of` au=~:
contract, that sufficient monies to meet the oblinations cf th.`
contract are actually in the Treasury, or ors ant~.ci=ata~? to ca~r.,~
into the Treasury to the credit of the ~zpprapriation from ~~n? ur
the same are to be drawn, and that said r.~onies new actuaii~ in
th,. Treasury, togetizer with the monies anticipated to coma i:ltc>
t?^.e Treasury, to the. credit of said appropriation a~-e cthe~w`•s~=
unencu.^zbered .
amount Not to Exceed S
- ~irectcr of =~ iraroe
Tre City of Chula Vi .:+~_a.
Date By ..W...._.
F ~~nd
Dept./Activity
Purpose .___._._....._~.._.__.._ .._
Bidder
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