2000/10/25 Council Minutes - Laserfiche WebLink

October 25,2000 • A pan-time deco-Mien in the Facilities Department;and • A senior page position(upgraded from a day laborer position)at the Library to supervise and coordinate the activity of 14 other pages.and upgrading a pan-time Library Tech position to increase the hours in the Library's outreach program. Other Feewnnel Coals.I am proposing a modest increase of 58,000 to support continuing education for our employees.This will increase the college tuition allowance to 5125 per undergraduate credit hour and 5275 for each credit hour of graduate work. Reserves. The proposed budget recommends the City's continued funding of reserves.including the following major reserves: Capital Improvements. I Lm recommending•contribution of 52,770,000—approximately 3.0%of the general fund,to Cm 4,the City's =mulcted reserve fund for capital improvements. This maintains the contribution level established as a goal in 1997.The purpose of CIF 4 is to fund a variety of capital needs and facilities throughout the City. Pension Reserves. The proposed budget includes con0ibutions of 52,569,606 and$1,591,004.respectively,to the fire and police pension reserves.As you will recall,as recently as 1995.the City's goal was to fully fund its retirement and medirul expense obligations to its retired pre-LEOFF and LEOFF I employees by 2019. Due to our accelerated funding of these reserves in recent years,the City is now on a path to fully fund its pre-LEOFF and LEOFF I obligations by 2009—if we are able to continue funding these reserves at the levels rrconmeedd by actuarial studies.Additional funding is included in this budget to pay the actual expenses forecasted for 2001. Raley Des. The Rainy Day Fund was established by Council ordinance before I became Mayor.However.it had not been funded.It is now funded to the=annum amount allowed by state law,which is 31.5 cents per thousand dollars of the City's assessed valuation.For the third year in a row,a