HomeMy WebLinkAbout2024-05-14; City Council; Resolution 2024-105RESOLUTION NO. 2024-105
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, AUTHORIZING THE CITY MANAGER OR DESIGNEE TO
APPROPRIATE $5,200,000 FROM THE GENERAL FUND TO TRANSFER TO THE
RISK MANAGEMENT FUND AND TO APPROPRIATE $5,200,000 FROM THE
RISK MANAGEMENT FUND FOR CLAIMS, SETTLEMENT AND RESERVES
COSTS TO THE FISCAL YEAR 2023-24 OPERATING BUDGET.
WHEREAS, the City Council of the City of Carlsbad, California, has determined that risk
management costs related to claims, settlements and reserves have been increasing year over year in
recent history; and
WHEREAS, the city's Risk Management Fund has annual expenses that exceed the current
available funding sources, resulting in an annual fund deficit; and
WHEREAS, the Risk Management Fund requires additional funds and appropriations for the rest
of fiscal year 2023-24 in the amount of $5,200,000 to account for these increasing claims, settlements
and reserves costs.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California, as
follows:
1. That the above recitations are true and correct.
2. That the City Manager or designee shall be authorized to appropriate $5,200,000 to the
General Fund's 2023-24 operating budget to fund a transfer to the Risk Management
Fund.
3. That the City Manager or designee shall be authorized to appropriate $5,200,000 to the
Risk Management Fund's 2023-24 operating budget to ensure sufficient budget is
available. for the additional claims, settlement and reserve costs incurred during fiscal
year 2023-24.
PASSED, APPROVED AND ADOPTED at a Regular Meeting of the City Council of the City of
Carlsbad on the 14th day of May, 2024, by the following vote, to wit:
AYES:
NAYS:
ABSTAIN :
ABSENT:
BLACKBURN, BHAT-PATEL, ACOSTA, BURKHOLDER, LUNA.
NONE.
NONE.
NONE.
KEITH BLACKBURN, Mayor
SHERRY FREISINGER, City Clerk
(SEAL)