HomeMy WebLinkAboutCity Council Resolution 1981-225CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of
the City Council of the City of Plymouth,M n�neSOta wasa od n tFie
6th day of April , 19_JL. The following members were
present: Mayor Povenport. Epuncilmembers Hoyt, Schneider and Threinen
The following members were absent: rnunrilmomhor Nailc
introduced the following Resolution and
moved Its adoption:
RESOLUTION #81-225
AUTHORIZING THE TRANSFER OF FUNDS FROM THE GROUP HOSPITAL/SURGICAL AND DENTAL
INSURANCE ACCOUNT TO THE RESERVE FOR INSURANCE CLAIMS
WHEREAS, the City has purchased a contract which provides hospital/surgical and
dental benefits for all permanent employees, and
WHEREAS, the policy purchased is a self-insurance plan for all claims totaling less
than $15,000 per individual for all hospital/surgical claims, and $750 per individual
for all dental claims during the policy year, and
WHEREAS, the Finance Director has established a cash reserve to provide the City with
adequate funds in the event of claims being greater than projected.
. NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the sum of $4,796 be transferred from the Group Dental Account
(101-180-832) to the Reserve for Insurance Claims Account (101-000-374). The
balance of the reserve account be maintained at 25% of the estimated claims for the
following year by annually transferring the necessary funds from the Group Hospital/
Surgical and the Group Dental Accounts.
The motion for the adoption of the foregoing Resolution was duly seconded by
Couggil mb , and upon vote being taken thereon, the
following vo e n favor thereof: Mayor Davenport, Councilmembers Hoyt.
�chneiget and Threineo
Tne following vote against or a sta ne ; none
Whereupon the Resolution was declared duly passed and adopted,