HomeMy WebLinkAbout03 - Delegation of Authority to Request DisbursementsCITY OF
°� e= NEWPORT BEACH
C9C /F00.NP City Council Staff Report
Agenda Item No. 3
September 11, 2012
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Finance Department
Dan Matusiewicz, Finance Director
949 - 644 -3126, danm @newportbeachca.gov
PREPARED BY: Susan Giangrande, Budget Manager
APPROVED: A Y-"K
TITLE: Delegation of Authority to Request Disbursements
ABSTRACT:
As a participant in the California Employer's Retiree Benefit Trust Program ( CERBT),
the City must delegate the authority to request disbursements from the Other Post
Employment Prefunding Plan and such delegation must be authorized by Resolution.
RECOMMENDATION:
Authorize, by Resolution 2012 - 77 , the ability to request employer disbursements from
the CERBT.
FUNDING REQUIREMENTS:
There is no fiscal impact related to this item
DISCUSSION:
The City Council authorized participation in the CERBT on March 25, 2008. Our
CERBT fund balance as of the most recently received quarterly statement, March 31,
2012, is $10,959,797.
The City Council originally delegated the authority to request employer disbursements
from the CERBT fund to the incumbents in the positions of Finance Director and Deputy
Director Finance. Disbursement requests must be signed by two authorized staff
members. CERBT staff members recently recommended that the City increase the
number of positions authorized to request employer disbursements because without two
Delegation of Authority to Request Disbursements
September 11, 2012
Page 2
authorized signatures, disbursements will not be made which can negatively impact City
operations.
Therefore, the attached resolution delegates the authority to request employer
disbursements from the CERBT fund to the incumbents in four positions: Finance
Director, Deputy Finance Director, Accounting Manager, and Budget Manager. Having
four positions authorized to request employer disbursements should ensure that all
disbursement requests will be made on a timely basis.
ENVIRONMENTAL REVIEW:
Staff recommends the City Council find this action is not subject to the California
Environmental Quality Act ( "CEQA ") pursuant to Sections 15060(c)(2) (the activity will
not result in a direct or reasonably foreseeable indirect physical change in the
environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378)
of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it
has no potential for resulting in physical change to the environment, directly or
indirectly.
NOTICING:
The agenda item has been noticed according to the Brown Act (72 hours in advance of
the meeting at which the City Council considers the item).
Prepared by:
Submitted by:
b
Susan Giangrande Dan Matu iewicz
Budget Manager Finance Director r
Attachments: Resolution 2012-
0a
RESOLUTION NO. 2012=
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH DELEGATING THE AUTHORITY TO
REQUEST EMPLOYER DISBURSEMENTS FROM THE
CALIFORNIA EMPLOYER'S RETIREE BENEFIT TRUST
PROGRAM.
WHEREAS, Government Code Section 22940 establishes in the State
Treasury the Annuitants' Health Care Coverage Fund for the prefunding of health care
coverage for annuitants; and
WHEREAS, the California Public Employees' Retirement System ( "CaIPERS ")
Board of Administration has sole and exclusive control and power over the administration and
investment of the Prefunding Plan known as the California Employer's Retiree Benefit Trust
Program ( "CERBT "); and
WHEREAS, the City Council of City of Newport Beach elected to participate in
the CERBT effective March 25, 2008, and
WHEREAS, CaIPERS has requested that the City of Newport Beach
( "Employer ") adopt this resolution to increase the number of positions that have the authority
to request Employer disbursements from the CERBT.
NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of
Newport Beach delegates to the positions of Finance Director, Deputy Finance Director,
Accounting Manager, and Budget Manager the authority to request on behalf of the
Employer, disbursements from the CERBT and to certify as to the purpose for which the
disbursed funds will be used.
ATTEST:
ADOPTED this 11th day of September, 2012.
City Clerk
Mayor
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