HomeMy WebLinkAboutResolutions - 1989.12.14 - 17322December 14, 1989
MISCELLANEOUS RESOLUTION 89336
BY: FINANCE COMMITTEE
IN RE: TRANSFER OF -FUNDS TO THE RETIREES' HOSPITALIZATION BENEFITS
TRUST FUND.
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS the County has adopted a policy calling for review of the
Actuarial funding requirements for retirees hospitalization benefits; and
WHEREAS for the year of 1989, $5,626,486 was called for to meet
Actuarial funding requirements ; and
WHEREAS the County will pay approximately $1,960,000 in health care
benefit premiums in 1989 leaving a balance of $3,666,486; and
WHEREAS the County will have a balance of approximately $9,070,000 in
the Retirees' Hospitalization Actuarial Fund which has been established to
help meet Actuarial funding requirements.
NOW THEREFORE BE IT RESOLVED $3,666,486 be transferred from the
Retirees' Hospitalization Actuarial Fund to the Retirees' Hospitalization
Benefits Trust Fund.
BE IT FURTHER RESOLVED the County Executive, through his Accounting
Division, be authorized to make the appropriate accounting transactions
and transfers.
Mr. Chairperson on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
FINANCE COMMITTEE
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RESOLUTION # 89336 December 14, 1989
Moved by Caddell supported by Jensen the resolution be adopted.
AYES: Pernick, Price, Rewold, Skarritt, Wolf, Aaron, Bishop,
Caddell, Calandro, Chester, Crake, Hobart, Jensen, Johnson, R. Kuhn, S. Kuhn,
Law, Luxon, McConnell, Moffitt, Oaks, Olsen, Pappageorge. (23)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was
adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal, do
hereby certify that I have compared the annexed copy of the attached resolution,
adopted by the Oakland County Board of Commissioners at their regular meeting
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