Agenda - Council - 10/27/1998 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #98-10- RESOLUTION AUTHORIZING THE TRANSFER OF THE CITY OF RAMSEY'S SELF-FUNDING INSURANCE PROGRAM FROM A TRUST AND AGENCY FUND TO AN INTERNAL SERVICE FUND WHEREAS, at the year-ending 1997, the City's auditing firm ofMalloy, Montague, Karnowski, Radosevich, & Co. P.A., made the recommendation that the City move its Self- Funding Insurance Program from a Trust and Agency Fund to an Internal Service Fund and WHEREAS, an Intemat Service Fund specifically states that this type of Fund should be used to account for the financing of goods and services on a cost reimbursement basis on goods and services that are provided by one department to other departments of a government agency and WHEREAS, a Trust and Agency Fund is to be used exclusively for assets held in trust by a government unit. NOW THEREFORE~ BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY~ ANOKA COUNTY~ STATE OF MINNESOTA, as follows: That the Ramsey City Council hereby authorizes the transfer of the City's Self-Funding Insurance Program from a Trust and Agency Fund to an Internal Service Fund. The motion for adoption of the foregoing resolution was duly seconded by Councitmember and upon vote being taken thereon, the following voted in favor thereofi and the following voted against: and the following abstained: and the following were absent: whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 27th day of October, 1998. I I I I I ! Ii ! I Ii I I I I I I I I