#699 10-01-74 Establish Payroll Benefits FundResolution No. 699 October 1, 1974
Member Anderson introduced the following resolution and MOVED its adoption:
RESOLUTION
(Establishing Payroll Benefits Fund)
WHEREAS, Under provisions of Minnesota Statutes, the City Council
is empowered to establish such funds as are necessary for the recording of
revenues and expenditures to properly reflect the financial condition of the
City and account for its monies, and
WHEREAS, It is the desire of the City Council to more properly reflect
actual program costs by charging each program with its proper share of payroll
benefits which heretofore were charged in aggregate to either a separate budget
program or to the employees' primary program, and
WHEREAS, The payroll system adopted by the City through its affiliation
with the Local Government Information Systems (LOGIS) data processing system
provides the capability of adding a charge for retirement, insurance, sick leave
and vacation to all direct labor charges;
NOW, THEREFORE, BE IT RESOLVED, That the City Council of the City of
Golden Valley does hereby:
1. Direct the establishment of a special revenue fund, effective
January 1, 1975 to be known as the 'Payroll Benefits Fund".
2. Direct that such fund be credited with a surcharge upon all
direct payroll charges made to any other program whatsoever,
the rate of which shall be determined, from time to time, by
the City Manager and the Director of Administrative Services,
which shall be sufficient to insure a proper balance in the
fund based upon experience developed from its operation.
3. Direct that all payments for payroll benefits such as, but not
limited to, vacation, sick leave, retirement and insurance,
shall be paid from such fund.
Mayor
Attest:
City Clerk
The motion for the adoption for the foregoing resolution was duly seconded by
Member Moberg, and upon vote being taken thereon, the following voted in favor
thereof: Anderson, Bix, Hoover, Moberg, and Riggs; and the following voted
against the same: None, whereupon said resolution was declared duly passed
and adopted, signed by the Mayor, and his signature attested by the Clerk.