CITY OF HOMER Finance/City Manager

HOMER, ALASKA

ORDINANCE 03-40

AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, AUTHORIZING THE TRANSFER OF $290,000.00 FROM THE GENERAL FUND FUND BALANCE TO THE HEALTH INSURANCE FUND 600.

WHEREAS, On December 31, 2002 the Health Insurance Fund 600 had a deficit of $284,000.00; and

WHEREAS, Administration is reviewing proposals to modify the health plan to make revenues equal expenses; and

WHEREAS, It will be difficult to over come a $284,000.00 deficit and the 2002 audit shows a fund balance increase of $372,615.00.

NOW, THEREFORE, BE IT ORDAINED by the City of Homer :

Section 1. That the transfer of $290,000.00 is hereby authorized from the General Fund Fund Balance to the Health Insurance Fund, 600.

Section 2. This ordinance is a budget amendment only, is not of a permanent nature and is a non code ordinance.

PASSED AND ENACTED by the Homer City Council this day of ___, 2003.

CITY OF HOMER

_____________________________ ATTEST: JACK CUSHING, MAYOR

______________________________________

MARY L. CALHOUN, CMC, CITY CLERK

Introduction: 06/23/03

Public Hearing: 07/14/03

Second Reading: 07/14/03

Effective Date:

Ayes:

Noes:

Abstain:

Absent:

Reviewed and approved as to form and content:

__________________________ Walt E. Wrede City Manager Gordon Tans, City Attorney

Date Date

Fiscal Note: Fiscal information included in body of Ordinance.









































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