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.
MLC/mlc