HomeMy WebLinkAbout2011-06-21; City Council; Resolution 2011-148Exhibit 10
1 RESOLUTION NO.2Q11-148
2 A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA, APPROVING
3 ADJUSTMENTS TO THE FY 2010-11 OPERATING
4 BUDGET
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WHEREAS, the city's self-insured Worker's Compensation Fund has
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experienced higher than anticipated claims and settlements in FY 2010-11; and
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WHEREAS, the Worker's Compensation Fund Balance has decreased more8
than anticipated, due to the higher claims and settlements; and
10 WHEREAS, the Finance Department recommends increasing the Worker's
11 Compensation cash reserves to an appropriate level to meet ongoing obligations; and
12 WHEREAS, it is recommended that the General Fund provide a cash transfer of
$1,000,000 to the Workers Compensation Fund to increase cash reserves;
14 NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
15 Carlsbad, California, as follows:
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1. That the above recitations are true and correct.
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2. That the City Council of the City of Carlsbad, California, does hereby
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authorize an additional appropriation and transfer of $1,000,000 in Fiscal Year
20 2010-11 to the city's Worker's Compensation Fund.
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1 PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the
2 Carlsbad City Council, Carlsbad Municipal Water District Board of Directors, Carlsbad
3 Housing and Redevelopment Commission held on the 21st day of June 2011, by the
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following vote to wit:
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AYES: Council Members Hall, Kulchin, Blackburn, Douglas, Packard.
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NOES: None.8
9 ABSENT: None.
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MAW HALL, Mayor
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ATTEST:
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15 LORRAINE M. WOOD, City Clerk
16 (SEAL)
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