HomeMy WebLinkAboutCity Council Resolution 21-054 adjust Operating budget for Worker's compensationRESOLUTION NO. 21-054
RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SARATOGA
TO ADJUST THE FY 2020/21 OPERATING BUDGET
FOR EXCESS WORKERS COMPENSATION INSURANCE PREMIUM COST
WHEREAS, the City of Saratoga received an estimate of the Workers Compensation insurance
premium cost during the time of budget preparations; and
WHEREAS, the FY 2020/21 estimate was significantly lower than the actual premium cost; and
WHEREAS, the Workers Compensation Program is in its own fund with sufficient reserves to
fund the budget adjustment; and
WHEREAS, staff requests an increase in the budgeted expenditures to address the funding
shortfall in the following amount:
Account Description Account Amount
To increase FY 2020121 expenditure appropriation:
Increase Expenditure Appropriation
612.3601.64544 $10,885
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Saratoga
hereby approves the above budget adjustments to the Fiscal Year 2020/21 Operating Budget.
BE IT FURTHER RESOLVED, the above and foregoing resolution was passed and adopted at
a regular meeting of the Saratoga City Council held on 71" day of July 2021 by the following
vote:
AYES: Mayor Yan Zhao, Vice Mayor Tina Walia, Council Members Mary -Lynne Bernald,
Kookie Fitzsimmons, Rishi Kumar
NOES:
ABSENT:
ABSTAIN:
04�6`n Zhao, Mayor
City of Saratoga
AttV
ebbie Bretschneider, �/
City Clerk, City of Saratoga