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File #: 19-0089    Version: 1
Type: Agenda Item Status: Adopted
File created: 1/16/2019 In control: Finance Committee
On agenda: 1/24/2019 Final action: 1/24/2019
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 24, 2019

 

COMMITTEE ON FINANCE

 

Mr. Brian A. Perkovich, 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 2019 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 13, 2018, and December 20, 2018.

 

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 24, 2019