HomeMy WebLinkAboutAgenda Statement 1978/01/03 Item 13CITY OF CHULA VISTA
COUNCIL AGENDA STATEMENT Item No.1~
For meeting of 1/3/78
ITEM TITLE Resolution ~~: Appropriating Federal Anti-Recession Funds
SUBMITTED BY Director of Finance
ITEM EXPLANATION (4/5TH'S VOTE REQUIRED YES X NO_)
The Anti-Recession Fiscal Assistance Program (AREA), authorized originally
by the provisions of Title II, Public Works Act of 1976, was extended for
one year and amended by provisions of the Inter-Governmental Anti-Recession
Assistance Act of 1977. In the past year the City Council, as recommended,
has appropriated our four quarterly payments totalling $305,117.00 to the
Retirement Fund to supplement the employer's cost for Retirement. Since
the past action in July, 1977, we have received two additional quarterly
payments. One in July in the amount of $129,440.00 and one in October
in the amount of $140,444.00, or a total of $269,884.00. In addition, we
have received investment income of $10,221.78. The quarterly payments and
investment income, which total $280,105.78, must be expended or appro-
priated by January 12, 1978.
r~,ii rn rrn
thCIlI511J
Agreement Resolution1C Ordinance_ Plat_ Notification List_
Other ENVIRONMENTAL DOCUMENT: Attached Submitted on
FINANCIAL IMPACT
By the use of Anti-Recession Funds for Employer's Retirement Cost, a portion
of the property tax rate allocated for Retirement can be shifted to the
General Fund without changing our overall tax rate of $1.25. This flex-
ibility enables us to meet necessary basic service costs in Retirement and
also provide financial assistance to the General Fund.
STAFF RECOMMENDATION
It is my recommendation that our July and October quarterly payments of
$269,884.00 and our investment income of $10,221.78, or a total of $280,105.78,
be appropriated for Employer's Contributions to the Public Employees Retirement
System.
BOARD/COMMISSION RECOMMENDATION
N/A
AFp;;
COUNCIL ACTION _• J ,ti -J ''
C~ ~ _ _. z
o~
_-~c_~ia
Dated _
'°~ °•~•~-~.._, Form A-113 (Rev. 5/77)
Form No. F-229 ~~ ~'
12/73
CERTIFICATE OF CITY/DIRECTOR OF FINANCE
Certification of Unappropriated Balance
410 271
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 S 280,105.78 Fund Anti Recession
Purpose Emplover's Contribution to Public Employees Retirement System
Bidder
Date 12/27/77 By
~~
Actin~ector of Finance
The City of Chula Vista
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 $
Director of Finance
The City of Chula Vista
Date
Fund
Purpose
Bidder
By
Dept./Activity
Certificate No. 57