HomeMy WebLinkAboutOrdinance 10677,.
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ORDINANCE N0. _,~~~
AN ORDINANCE APPROPRIATING $1,455,177 63 TO THE WATER AND
SEWER OPERATING FUND, PE45, CENTER 0609000,
NON-DEPARTMENTAL-WATER ($873,106.63) AND CENTER 0709000,
NON-DEPARTMENTAL-SEWER ($582,071.00) AND DECREASING THE
WATER AND SEWER OPERATING FUND'S UNRESERVED RETAINED
EARNINGS BY THE SAME AMOUNT FOR THE PURPOSE OF REPAYING
THE WATER AND SEWER'S PORTION OF RETIREE HEALTH INSURANCE
TO THE EMPLOYEES' RETIREMENT FUND; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES AND REPEALING ALL PRIOR ORDINANCES IN
CONFLICT HEREWITH; PROVIDING FOR ENGROSSMENT; AND
PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments
for the Fiscal Year 1989-90 and in the Budget of the City Manager, there
shall also be increased appropriations in the Water and Sewer Operating Fund
PE45, Center 0609000, Non-Departmental-Water ($873,106.63) and Center 0709000,
Non-Departmental-Sewer ($582,071..00), in the total amount of $1,455,177 63;
thereby decreasing the Water and Sewer Operating Fund's unreserved retained
earnings by the same amount, for the purpose of repaying the Water and Sewer's
portion of retiree health insurance to the Employees` Retirement Fund.
SECTION 2.
Should any portion, section or Bart of a section of this ordinance be
declared invalid, inoperative or void for any reason by a court of competent
jurisdiction, such decision, opinion or judgement shall in no way impair the
remaining portions, sections, or parts of sections of this ordinance, which
said remaining provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 10363 and all other
ordinances and appropriations amending the same except in those instances
where the provisions of this ordinance are in direct conflict with such other
ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
The City Secretary of the City of Fort Worth is hereby directed to engross and
enroll this ordinance by copying the caption and effective date into the
minutes of the City Council and by filing this ordinance in the ordinance
records of the City of Fort Worth
F,
SECTION 5.
This ordinance shall take effect and be in full force and effect from and
after the date of this passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY:
C'ty Attor y
Date: ~~~~ r ~~
Adopted ~ 1 '~ ~'" ~ V
Effective• ~ _ ~ 5 " 7 V
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REFERENCE
NUMBER
SUBJECT SUPPLEMENTAL APPROPRIATION FOR
PAGE
9-25-90 **G_8829 WATER AND SEWER FUND PORTION RETIREE ,of 1.__
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached Supplemental Appropriation Ordinance appropriating
$1,455,177.63 to the Water and Sewer Operating Fund PE45, Center
0609000, Non-Departmental-Water ($873,106.63) and Center 0709000,
Non-Departmental-Sewer, ($582,071), and decreasing the Water and Sewer
Operating Fund's unreserved retained earnings by the same amount; and
2. Approve the transfer of $1,455,177.63 from the Water and Sewer Operating
Fund PE45, Center 0609000, Non-Departmental-Water ($873,106.63) and
Center 0709000, Non-Departmental-Sewer ($582,071) to General Fund GG01.
DISCUSSION:
Between 1984-89, the Employee Retirement Fund has annually contributed to
the City for the cost of retiree's group health insurance premiums. Legal
council reviewing the City's Retirement Fund recommended that the City
schedule a 10-year payback to the Retirement Fund for its contributions
toward retiree health insurance since fiscal year 84-85 (approximately
$13,816,754). The Water and Sewer Department will discharge its obligation
in a lump-sum payment of $1,455,177.63 in fiscal year 1989-90 to the General
Fund for its portion of the payback. The General Fund will then reimburse
the Retirement Fund over a 10-year payback. The Water and Sewer's
obligation will have been met.
FINANCING•
Upon adoption of Recommendation No. 1, sufficient funds will be available in
Water and Sewer Operating Fund PE45, Center 0609000, Non-Departmental-Water
and Center 0709000, Non-Departmental-Sewer for transfer to General Fund GG01.
Upon completion of Recommendation No. 2, sufficient funds will be available
in General Fund GGO1 to repay the Water and Sewer's portion of retiree
health insurance since fiscal year 84-85.
APPROVED B-'
RG:w/6 ~+~~ CQUNC~~
SEP ~~ 1990
~~~~
Cite $eoretarp of the
_ Ci
SUBMITTED FOR I Ht
CITY MANAGER'S
OFFICE BY Ramon Guajardo 6191 97CW
DISPOSITION BY COUNCIL.
^ APPROVED
PROCESSED BY
ORIGINATING ^ OTHER (DESCRIBE)
DEPARTMENT HEAD Richard Sawey 8246 CITY SECRETARY
FOR ADDITIONAL INFORM TION
CONTACT Cynthia Jones s522
Adopted Ordinance No.1D..~.~
DATE