HomeMy WebLinkAboutItem #08 Approval to Transfer Funds from Salaries Account to Worker’s Compensation Account Y
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Ocoee
florida
AGENDA ITEM COVER SHEET
Meeting Date: September 6, 2016
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Reviewed By: j
Contact Name: Stephen McCosker Department Director: C. Br/, n
Contact Number: 407-905-3160 ext. 3055 City Manager: R. Frank ,/�/
Subject: Transfer of Funds from Salaries Account to Worker's Compensation Account
Background Summary:
The City of Ocoee has benefited from being self-insured and maintaining a high deductible for Worker's
Compensation. During the 2015/2016 fiscal year the police department experienced Worker's Compensation
claims totaling $247,500. There is a need to transfer this amount from the Salaries Account(001-521-00-1200),
where there are sufficient funds to cover the shortage, to the Worker's Compensation Account(001-516-00-
2400).
Issue:
Should the Honorable Mayor and Board of City Commissioners authorize the Police Department to transfer
$247,500 from the Salaries Account to the Worker's Compensation Account)?
Recommendations
It is recommended that the Honorable Mayor and Board of City Commissioners authorize the Police
Department to transfer$247,500 from the Salaries Account to the worker's Compensation Account?
Attachments:
Financial Impact:
A total of no more than $247,500 will be transferred from the Salaries Account to the Worker's Compensation
Account.
Type of Item: (please mark with an "x'2
Public Hearing For Clerk's Dept Use:
Ordinance First Reading , Consent Agenda
Ordinance Second Reading Public Hearing
Resolution Regular Agenda
X Commission Approval
Discussion & Direction
x Original Document/Contract Attached for Execution by City Clerk
Original Document/Contract Held by Department for Execution
Reviewed by City Attorney x N/A
Reviewed by Finance Dept. N/A
Reviewed by () N/A