HomeMy WebLinkAboutReso - CC - 088-2004RESOLUTION NO. 88-2004
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
AUTHORIZING TRANSFER OF $500,000 FROM THE CALPERS RESERVE FUND TO
THE RISK MANAGEMENT RESERVE FUND
RESOLVED, by the City Council of the City of Burlingame:
WHEREAS, the City maintains a Risk Management Fund to support its self-insured
workers compensation and liability programs; and
WHEREAS, an actuarial study has recommended that the City gradually increase its
funding of the Risk Management Fund to a 75% confidence level over the next 5 years; and
WHEREAS, there is sufficient funding in the CALPERS Reserve Fund to allow a transfer
of $500,000 to the Risk Management Fund,
NOW, THEREFORE, IT IS RESOLVED AND ORDERED:
1. A transfer of $500,000 from the CALPERS Reserve Fund to the Risk Management Fund
is hereby authorized and directed.
&..1.: 4.0'
MAYOR
I, DORIS MORTENSEN, City Clerk of the City of Burlingame, do hereby certify that the foregoing
resolution was introduced at a regular meeting of the City Council held on the 4th day of
October 2004, and was adopted thereafter by the following vote:
AYES: COUNCILMEMBERS: BAYLOCK, COFFEY, GALLIGAN, NAGEL, O'MMONY
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE
Y CLERK