Chapter 3.76
UNEMPLOYMENT COMPENSATION RESERVE FUND
Sections:
3.76.020 Deposits and disbursement.
3.76.030 Rate established by resolution.
3.76.040 Clerk-treasurer to maintain account.
3.76.050 Transfer of funds as required.
3.76.060 Maximum amount established – Replenishment.
3.76.070 Clerk-treasurer to establish and implement fund.
3.76.010 Established.
There is established within the budgetary and financial accounting system of the city of Westport a new fund to be designated the unemployment compensation reserve fund. (Ord. 1134 § 1, 1997)
3.76.020 Deposits and disbursement.
Into that certain fund established by WMC 3.76.010, all moneys set aside by action of the city council for payment of claims involving unemployment compensation or utilizing leave balances immediately prior to an employee’s retirement date for its employees shall be deposited. Upon receipt from the appropriate state agency of a claim in relation to said unemployment compensation or letter of retirement from the city employee, pending its approval by the appropriate city officials or official, the money may be disbursed from the fund to the appropriate agency or employee subject to leave balance availability. (Ord. 1559, 2014; Ord. 1134 § 2, 1997)
3.76.030 Rate established by resolution.
Rate of contribution or deposit by the city into that certain fund established by WMC 3.76.010 shall be established from time to time by resolution of the city council. (Ord. 1134 § 3, 1997)
3.76.040 Clerk-treasurer to maintain account.
Commencing with the first date of the implementation of this reserve fund, the clerk-treasurer shall maintain an accounting of the deposits and payments by the various departments of the city as they may from time to time be made into the unemployment compensation reserve fund established by this chapter. The clerk-treasurer shall further maintain a continuing accounting of the charges against said fund allocating said charges by department. (Ord. 1134 § 4, 1997)
3.76.050 Transfer of funds as required.
On an annual basis, the clerk-treasurer shall give notice to each department head and to the council of the charges or assessments made against the fund; said allocation to be made by department, and shall further give notice as to the contribution level of the various departments as of that time. In the event at the end of each year each department has, as a result of claims made against it pursuant to the provisions of the unemployment compensation law of the state, as it may from time to time be existing, required the expenditure of more moneys than have been deposited by that department upon an accumulative basis, then the clerk-treasurer shall give such indication and shall be and is authorized to transfer from the funds of that department to the unemployment compensation reserve fund such moneys as may be necessary to eliminate the deficiency or deficit existing. (Ord. 1134 § 5, 1997)
3.76.060 Maximum amount established – Replenishment.
The maximum amount to be accumulated in the fund shall be $40,000. At such time that the maximum amount is accumulated, the clerk-treasurer will stop making transfers into the fund. When the fund is drawn upon, that department will replenish the fund at the stipulated rate until the maximum amount is obtained. (Ord. 1134 § 6, 1997)
3.76.070 Clerk-treasurer to establish and implement fund.
The city clerk-treasurer is authorized and directed to take all necessary steps to establish the fund provided for in this chapter and implement its utilization. (Ord. 1134 § 7, 1997)