HomeMy WebLinkAboutOrdinance 17482-04-2007Ordinance No 17482-04-2007
AN ORDINANCE INCREASING APPROPRIATIONS IN THE GENERAL FUND IN
THE AMOUNT OF $77 841 AND DECREASING THE UNRESERVED
UNDESIGNATED GENERAL FUND FUND BALANCE BY THE SAME AMOUNT
FOR THE PURPOSE OF FUNDING CONSULTING AND ACTUARIAL SERVICES
RELATED TO THE CITY'S EMPLOYEES RETIREMENT FUND AUDIT
PROVIDING FOR A SEVERABILITY CLAUSE, MAKING THIS ORDINANCE
CUMULATIVE OF PRIOR ORDINANCES IN CONFLICT HEREWITH; 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 Fiscal Year 2006-
2007 in the Budget of the City Manager there shall also be increased appropriations in the General
Fund in the amount of $77 841 and decreasing the unreserved, undesignated General Fund fund
balance by the same amount, for the purpose funding consulting and actuarial services related to
the City's Employee Retirement Fund audit.
SECTION 2.
That should any portion, section or part 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
judgment 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 17142 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed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
ADOPTED AND EFFECTIVE. April 10, 2007
This ordinance shall take effect upon adoption
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 4/10/2007 Ordinance No 17482-04-2007
DATE Tuesday April 10 2007
LOG NAME 101ST SOUTHWEST REFERENCE NO *G-15663
SUBJECT
Confirm Payment to First Southwest Company for Retirement Audit Actuarial Assumption Review
and Benefit Calculation Services and Adopt Supplemental Appropriation Ordinance
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriation ordinance increasing appropriations in the General Fund
by $77 841 00 and decreasing the unreserved undesignated General Fund fund balance by the same
amount; and
2: Confirm the payment for services to First Southwest Company in the amount of $77 841 00 Authorize
the payment of an invoice from First Southwest Company totaling $77 841 00
DISCUSSION
The City Council requested that the Internal Audit Department conduct a comprehensive audit of the City's
Retirement Fund These services were provided from May 3 2006 through November 28 2006 The audit
payment utilized the services of First Southwest Company The services included an audit of the 2005
Actuarial Valuation of the Fund by Stanton Group
First Southwest Company also provided consulting assistance to the Internal Audit Department in the
performance of the audit. The cost of this service total $27 625
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of the above recommendations and adoption of the
attached supplemental appropriation ordinance funds will be available in the current operating budget, as
appropriated of the General Fund Upon approval the unedited unreserved undesignated General Fund
fund balance will be $48 673 231
TO Fund/Account/Centers FROM Fund/AccountlCenters
GG01 531200 0905500 $77,841.00
GG01 532100 0905500 0.00
Submitted for City Manager's Office bv• Karen Montgomery (2689)
Originating Department Head Costa Triantaphilides (6132)
Additional Information Contact: Marilyn Heinen (6158)
Logname• 101ST SOUTHWEST Page 1 of 1