2016/02/09 City Council Resolution 2016-14RESOLUTION NO. 2016-14
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROHNERT PARK
AUTHORIZING CONTRIBUTIONS OF $6,633,323 TOWARD UNFUNDED POST -
EMPLOYMENT BENEFIT LIABILITIES AND INCREASING APPROPRIATIONS BY $1,333,323
WHEREAS, it is determined to be in the best interest of the City to set aside funds for the
pre -funding of its Ca1PERS pension obligation to be held in trust for the exclusive purpose of
making future contributions of the City's required pension contributions and any employer
contributions in excess of such required contributions at the discretion of the City; and
WHEREAS, it is determined to be in the best interest of the City to set aside funds for the
pre -funding of its post -employment benefit programs other than pensions (OPEB) to be held in trust
for the exclusive purpose of making future contributions toward the City's OPEB obligations at the
discretion of the City; and
WHEREAS, the City budgeted $5,300,000 this fiscal year toward pension and OPEB
liabilities; and
WHEREAS, through fiscal discipline the City has generated and assigned $1,333,323 in a
Retirement Reserve in accordance with the City's financial policies; and
WHEREAS, the City's funding of the pension and OPEB trust funds does not, and is not
intended to, create any new vested right to any benefit nor strengthen any existing vested right of
any former, current, or future City employee.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Rohnert
Park that it does hereby authorize:
1. The Director of Finance to increase appropriations by $1,333,323 for the purpose of
transferring said funds to the City's pension trust fund; and
2. The transfer of $3,300,000 to the City's OPEB trust fund and $3,333,323 to the City's
pension trust fund; and
3. The City Manager or his/her designee to take all necessary related actions.
DULY AND REGULARLY ADOPTED this 91h day of February, 2016.
CITY OF ROHNERT PARK
xi a B orte, Mayor
ATTEST:
1 Anne M. Buergler, City Cl&k
AHANOTU: CALLINAN: AV e STAFFORD: � J f- MACKENZIE: M e BELFORTE:
AYES: ( S ) NOES: ( 0 ) ABSENT: ( 0 ) ABSTAIN: ( 0 ) �—