HomeMy WebLinkAboutCC RES 2015-92RESOLUTION NO. 2015- 92
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM DESERT,
CALIFORNIA, TO ESTABLISH A FUND FOR PURPOSES OF INTERNAL
SERVICE FUND FOR COMPENSATED ABSENCES IN THE CITY OF PALM
DESERT
WHEREAS, City staff historically fully funded and set aside funds for the purpose of
compensated balances; and
WHEREAS, the City desires to establish a fund for purposes of tracking expenditures,
budgeting, setting aside funds for this purpose; and
WHEREAS, the City desires to eliminate major budget adjustments within the General
Fund; and
WHEREAS, the City desires to establish and designate a fund for the specific purpose of
said Compensated Absences Liability activity.
NOW, THEREFORE, BE IT RESOLVED, that:
1. The Finance Director will establish Fund 577, Internal Service Fund —
Compensated Absences for the purpose described herein; and
2. The Finance Director will be authorized to transfer $2,700,000 from Fund 576 to
this new Fund 577 to establish the new fund. Funds were set aside in previous fiscal years for
purposes of which are reflected in the notes for Long Term Liabilities of each fiscal year.
Additionally, the General Fund will transfer $56,000 for Fiscal Year 2014-2015 to the new fund to
cover the current change in the liability which is budgeted in General Fund Transfer out account.
3. The fund created will be restricted to committed funds, representing resources
whose use is constrained by limitations such as specific purpose as defined above and imposed
by action herein, and remain binding unless removed in the same manner.
PASSED, APPROVED and ADOPTED by the City Council of the City of Palm Desert,
California, at its regular meeting held on the 12th of November, 2015, by the following vote, to wit:
AYES: HARNIK, JONATHAN, SPIEGEL, TANNER, and WEBER
NOES: NONE
ABSENT: NONE
ABSTAIN: NONE
Susan Marie Weber, Mayor
ATTEST:
RAGIELLE D. KLASSEN, CYTY CLERK
CITY OF PALM DESERT, CALIFORNIA