HomeMy Public PortalAbout93-090 (07-20-93)RESOLUTION NO. 93-90
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF LYNWOOD ESTABLISHING A SERVICE FEE TO
COVER ADMINISTRATIVE OVERHEAD COSTS FOR
RETIREMENT SERVICES.
WHEREAS, the City Council adopted Ordinance No. 1291 to
establish a fee and service charge Revenue Cost Comparison System
to provide a source for recovery of costs reasonably borne; and
WHEREAS, the Cost Control System currently charges
administration overhead to other Special Funds as means to recover
costs for providing services, regulation, and products; and
WHEREAS, prior years funds had not been charged for cost
reasonable borne in providing employee retirement services, and
WHEREAS, the City incurs costs in providing services and
desires to recover costs by establishing Retirement Fund
Administration Overhead Expense and Revenue Recovery Accounts; and
WHEREAS, the City desires to recover costs incurred
beginning with F.Y. 1992-93 Budget Year.
Now, Therefore, the City Council of the City of Lynwood
DOES RESOLVE AS FOLLOWS:
Section 1. That the City Council does hereby establish
a fee for General Fund Revenue Recovery for Retirement
Administration Overhead in accordance with adopted Revenue Cost
Comparison System.
Section 2. That the cost Recovery System include charges
to Retirement at a rate of 10% for General Administration Overhead
and 5% for Departmental Administration overhead.
Section 3. That the Cost Recovery from Retirement Fund
be retroactive beginning with F.Y. 1992-93.
Section 4. That this resolution shall take effect
immediately upon its adoption
PASSED, APPROVED AND ADOPTED this 20th day of July
1993.
r
Paul H. Richards II, Mayor
City of Lynwood
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
I, the undersigned, City Clerk of the City of Lynwood
do hereby certify that the foregoing resolution was passed and adopted
by the City Council of the City of Lynwood at a regular meeting held on
the 20th day of J
1993.
AYES: COUNCILMEMBER BYRD, HEINE, WELLS, RICHARDS
NOES: NONE
ABSENT: COUNCILMEMBER REA
City Clerk, City of Lynwood
STATE OF CALIFORNIA ) I
§ J
COUNTY OF LOS ANGELES )
I, the undersigned City Clerk of the City of Lynwood, and
Clerk of the City Council of said City, do hereby certify that the
above and foregoing is a full, true and correct copy of Resolution No.
93-90 on file in my office and that said resolution was adopted on
the date and by the vote therein stated.
Dated this 20th day of July, 1993.
~~ , s .
City Clerk
l
ATTEST:
~~
Andrea L. Hoope~
City Clerk
APPROVED AS TO FORM:
., ~
ity ttorne
APPROVED AS TO CONTENT:
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Alfr tta F. Earnest
Director of Finance