HomeMy WebLinkAbout07-07-10 Regular Meeting of the Chapter 172 Employee Retiree Insurance and Benefits Board Meeting
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Minutes of a Regular Meeting of the Chapter 172 Employee Retiree Benefits Board held on
July 7th, 2010
1. Call to Order
The meeting was called to order at 2: 15
2. Consider approval of minutes from July 1, 2010 meeting
Matt made a motion to approve the minutes as presented, Martha seconded; the motion
passed.
3. Discuss Medical Costs for 2011
The Committee received a report from Michael Dolby, Director of Finance regarding the
balance of the Employee Health Services Fund. Michael stated staff wanted to have 180
days of working capital in reserves; currently the City has 104 days. Matt asked for some
concrete facts or some reasoning behind staff wanting 180 days. Matt then asked what the
norm was for this type of account. Michael answered that it was typical to have 60-90 days of
working capital. Michael gave the Committee three options; 1. Do nothing and leave the
account as is; 2. Request the City to transfer the money to the Employee Health Services
Account 3. Ask the City to transfer a portion of the money and get the rest of employees.
With that information, the board recommended the City leave the account as is and if Council
wanted to transfer the money, then they could. The Board could not vote on a formal
recommendation because there was not an action item on the agenda. Another meeting was
scheduled for July 13th to have a formal vote.
4. Administrative Reports
None
5. Board Comments
a. Matters appearing on the agenda
b. Inquiry of staff regarding specific factual information or existing policy
None
6. Adjournment
The meeting was adjourned at 3:25
Respectfully Submitted,
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Heather Weger -