09/23/1995 Council Packet - Laserfiche WebLink

Home Search

COUNCIL MINUTES AUGUST 14, 1995 Resolution No. 95 - 99 can be found at the end of these minutes. Consideration of Resolution No. 95 - 100 Authorizing the Transfer of Funds to the Escrow Fund from the Woods of Baldwin Lake, Second Addition Construction Fund - Council Member Bergeson moved to adopt this resolution as presented. Council Member Kuether seconded the motion. Motion carried unanimously. Resolution No. 95 - 100 can be found at the end of these minutes. CONSIDERATION OF RESOLUTION NO. 95 - 93 DESIGNATING EMPLOYEE PRETAX FORFEITS, RANDY SCHUMACHER Mr. Schumacher explained that the City of Lino Lakes has available medical and day care pretax spending accounts for eligible employees who wish to participate. Federal law states that any funds remaining in an employees account after the payment of all eligible expenses incurred during the plan year will be forfeited. The plan also states that the forfeitures will be used in the manner determined by the City Council. Mr. Schumacher explained that the Finance Department is recommending that a fund be established to accumulate all employee pretax forfeitures and designate the money for employee related activities. These dollars will then be returned indirectly back to the employees. The fund would accumulate about $200.00 to $300.00 per year. The City Council would be required to take action to spend any of the dollars in the fund. Council Member Elliott moved to adopt Resolution No. 95 - 93 setting up an account that will accumulate all employee pretax forfeitures and designate the money towards employee related activities such as the annual picnic and the Christmas party or any other employee related activity that may need help with financing. Council Member Elliott seconded the motion. Motion carried unanimously. Resolution No. 95 - 93 can be found at the end of these minutes. CONSIDERATION OF RESOLUTION NO. 95 - 94 AMENDING THE 1995 GENERAL FUND BUDGET, RANDY SCHUMACHER Mr. Schumacher explained staff is recommending that the 1995 General Fund Budget be amended to reflect the salary adjustments and benefits increases approved by the settlement of the International Union of Operating Engineers union contract. In addition staff is recommending that the Budget be amended to reflect the 1995 salary adjustments that were authorized by City Council in December, 1994. The money for these salary adjustments is included in the 199.5 General Fund Budget in the Salary Reserve Account. Staff is requesting authorization to transfer these funds from the Salary Reserve Account to the proper department account. PAGE 21