HomeMy WebLinkAbout2012-118 CCR Member Kay Lasman introduced the following resolution and moved
its adoption:
RESOLUTION NO. 2012-118
RESOLUTION APPROVING TRANSFER OF UNASSIGNED
GENERAL FUND NET ASSETS TO THE BROOKLYN CENTER FIRE
RELIEF ASSOCIATION
WHEREAS, the City of Brooklyn Center is required by State Statute to
fund any required shortfall in the actuarial funding of the Brooklyn Center Fire Relief
Association's pension fund; and
WHEREAS, the pension fund had a shortfall of $42,810 in funding
through the combination of actuarial determination of a $39,204 actuarial need and a
shortfall in the State's fire pension aid fund of$3,606 from the expected funding level;
and
WHEREAS, the City allocated funds in its 2011 General Fund operating
budget which were not paid to the pension fund in 2011, resulting in an accumulation of
those funds in the 2011 unassigned net assets of the General Fund at December 31, 2011.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Brooklyn Center that $42,810 be transferred from the existing General Fund
unassigned net assets to the Brooklyn Center Fire Relief Association pension fund.
r
September 10, 2012
Date Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Dan Ryan
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Carol Kleven, Kay Lasman, Lin Myszkowski, and Dan Ryan;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.