Title
A Resolution authorizing and directing the Urban County Government, by and through its Dept. of Finance, to transfer funding in the amount of $3,657,851.36 from the General Fund Health Insurance Reserve to the Police and Fire Pension Fund, in order to reimburse and compensate the fund for current and past expenses related to Medicare Part B. [Div. of Finance, O'Mara]
Summary
Authorization to transfer $3,657,851.36 from the General Fund Health Insurance reserve to the Police and Fire Pension Fund to cover FY 2020 and prior years’ expenses related to Medicare Part B. (L0295-20) (Holbrook/O’Mara)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes, Completed by David Barberie, February 26, 2020
Risk Management: N/A
Fully Budgeted: Yes
Account Number: 1101-202101-2011-33010
This Fiscal Year Impact: $3,657,851.36
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance:
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Lexington-Fayette Urban County Government, by and through its Department of Finance, be and hereby is authorized and directed to transfer funding in the amount of $3,657,851.36 from the General Fund Health Insurance reserve (account #1101-202101-33010), to the Police and Fire Pension Fund, in order to reimburse and compensate the fund for the current and past expenses related to Medicare Part B incurred on behalf of some of its members.
Section 2 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL: