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<br />Minutes of a Regular Meeting ofthe Chapter 172 Employee Retiree Benefits Board held on <br />July 7th, 2010 <br /> <br />1. Call to Order <br />The meeting was called to order at 2:15 <br /> <br />2. Consider approval of minutes from July 1, 2010 meeting <br />Matt made a motion to approve the minutes as presented, Martha seconded; the motion <br />passed. <br /> <br />3. Discuss Medical Costs for 2011 <br />The Committee received a report from Michael Dolby, Director of Finance regarding the <br />balance of the Employee Health Services Fund. Michael stated staff wanted to have 180 <br />days of working capital in reserves; currently the City has 104 days. Matt asked for some <br />concrete facts or some reasoning behind staff wanting 180 days. Matt then asked what the <br />norm was for this type of account. Michael answered that it was typical to have 60-90 days of <br />working capital. Michael gave the Committee three options; 1. Do nothing and leave the <br />account as is; 2. Request the City to transfer the money to the Employee Health Services <br />Account 3. Ask the City to transfer a portion of the money and get the rest of employees. <br />With that information, the board recommended the City leave the account as is and if Council <br />wanted to transfer the money, then they could. The Board could not vote on a formal <br />recommendation because there was not an action item on the agenda. Another meeting was <br />scheduled for July 13th to have a formal vote. <br /> <br />4. Administrative Reports <br />None <br /> <br />5. Board Comments <br />a. Matters appearing on the agenda <br />b. Inquiry of staff regarding specific factual information or existing policy <br />None <br /> <br />6. Adjournment <br />The meeting was adjourned at 3:25 <br /> <br />Respectfully Submitted, <br /> <br />J4t Q~-uA LU ~~ <br />Heather Weger <br />