To watch the live meeting proceedings, please refresh this page at the scheduled meeting time, a link labeled "In Progress" will appear under the Video column
File #: 18-0061    Version: 1
Type: Agenda Item Status: Adopted
File created: 1/10/2018 In control: Finance Committee
On agenda: 1/18/2018 Final action: 1/18/2018
Title: Authority to Transfer $5,000,000.00 from the Corporate Fund to the Metropolitan Water Reclamation District Retiree Health Care Trust (101-25000-601250)

TRANSMITTAL LETTER FOR BOARD MEETING OF JANUARY 18, 2018

 

COMMITTEE ON FINANCE

 

Mr. David St. Pierre, Executive Director

 

Title

Authority to Transfer $5,000,000.00 from the Corporate Fund to the Metropolitan Water Reclamation District Retiree Health Care Trust (101-25000-601250)

Body

 

Dear Sir:

 

The Retiree Health Care Trust Agreement provides the vehicle for advance funding of the District’s retiree health care liability. The 2018 District Budget provides for $5,000,000.00 of such funding to be made from the Corporate Fund. This $5,000,000.00 advance funding contribution was approved by the Board of Commissioners at its meetings on December 14, 2017, and December 21, 2017.

 

Accordingly, it is requested that authority be granted by the Board of Commissioners to transfer $5,000,000.00 from the Corporate Fund to the Metropolitan Water Reclamation District Retiree Health Care Trust.

 

Requested, Mary Ann Boyle, Treasurer, MAB

Respectfully Submitted, Frank Avila, Chairman Committee on Finance

Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for January 18, 2018