HomeMy WebLinkAbout2022-02-08; City Council; Resolution 2022-040RESOLUTION NO. 2022-040
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE APPROPRIATION AND TRANSFER FROM
GENERAL FUND, RECYCLED WATER FUND, WASTEWATER FUND AND SOLID
WASTE FUND RESERVES TO THE CARLSBAD MUNICIPAL WATER DISTRICT
WATER FUND TO ELIMINATE AN EXISTING LIABILITY
Exhibit 5
WHEREAS, the City of Carlsbad participates in the California Employers' Retiree Benefit Trust
(CERBT) Fund, a Section 115 trust fund dedicated to prefu'nding Other Post-Employment Benefits
(OPEB); and
WHEREAS, during fiscal year 2020-21, the California Public Employees' Retirement System,
which oversees the CERBT Fund, required the city to combine the separate city and Carlsbad Municipal
Water District OPEB acc<!unts into one single plan account; and
WHEREAS, the combining of the two accounts resulted in the General Fund and several other
enterprise funds owing the Water Fund a cash transfer; and
WHEREAS, at 2020-21 fiscal year end, a liability (or "due from") was recorded for the various.
funds and an asset (or "due to") was recorded in the Water Fund; and
WHEREAS, to eliminate the liability, an appropriation and transfer in to the Water Fund must
be recorded.
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 Deputy City Manager, Administrative Services is authorized to appropriate and
transfer $993,748 from the General Fund, $26,659 from the Recycled Water Fund,
$46,534 from the Wastewater Fund, and $7,980 from the Solid Waste Fund, for a tota[
of $1,074,921, to the Carlsbad Municipal Water District's Water Fund.
Feb. 8, 2022 Item #8 Page 35 of 36