Laserfiche WebLink
STAFF REPORT <br />TO:Mayor Keis and Members of City Council <br />FROM:Brenda Malinowski, Finance Director <br />DATE:January 23, 2020 <br />RE:Establish Insurance Internal Service Fund <br />ACTION REQUESTED: <br />Make a motion to authorize the establishment of an Insurance Internal Service Fund effective <br />January 1, 2020. <br />BACKGROUND: <br />An Insurance Internal Service Fund was included in the 2020 Budget in order to accumulate <br />funds to pay for health insurance, worker’s compensation insurance, and property insurance. <br />There was no impact to the levy to establish this fund. Future savings in this fund may be used to <br />cover deductibles, claims, and health insurance election changes. <br />STAFF RECOMMENDATION: <br />Staff is recommending approving the establishment of an Insurance Internal Service Fund.