4.2. SR 07-26-1993 - Laserfiche WebLink

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Q. Every four years fire relief associa- .. tions paying monthly retirement bene- W fits must have an actuarial study performed. Is it appropriate for the city to reduce the amount levied if the accrued interest is adequate to buy the current benefit provisions? A. M.S. 69.773, subd. 5 provides that the minimum municipal obligation must be certified to the city by August 1 to be levied in October for the subsequent year. The minimum municipal obligation is derived from the financial require- ~ ments of the special fund as calculated according to M.S. 69.773, subd. 4. Part of this calculation includes a pre- scribed interest earnings assumption applied to assets of the special fund. Annually, this calculation will be affected by actual earnings. Earnings in excess of the assumption increase assets and can reduce required city contnbutions in future years, while actual earnings less than the assump- tion will require an increased municipal contribution or contributions from other e II sources. The requirement of the statute is that the entire municipal obligation be levied. Assuming statutory time periods are followed, variances between actual interest earnings and interest assumptions are adjusted in the subsequent years. In the same way, good or poor yields on investments can lower or increase requirements for city contributions to the plans which pay lump sums. Q. Requests for up to $350 each, limit of five, are made each year for depart- ment members to attend the annual convention. These checks, made paya- ble to individuals, are to be supported by return vouchers, showing break- downs for lodging, meals, travel, etc. The department is reluctant to do this. How should the city handle these requests since no other employees receive such "liberal" freedom? A. M.S. 438.11 grants the council dis- cretion to "appropriate reasonable sums of money as it deems proper" to defray expenses of fire department employees attending the annual convention. Clearly the city council determines what expenses are reimburseable, and in what amounts. In providing for expenses, the council must provide for a per diem in an amount it determines appropriate. If the fire department fails to give the city sufficient information to make such a determination in conformance with its policy, payment cannot be made. The city should set a travel policy for all city employees. The policy should include reimbursable expenses, the amounts, and conditions under which they are reimbursable, and the amount of any per diem payable to firefighters. An expense reimburse- ment system may be administered by establishing an imprest fund for travel advances. When an advance is obtained, upon return, the employee settles with the city by submitting a claim in writing, detailing all claimed expenses for audit and allowance by the council. . NOW OPEN. NEW STORE IN SOUTH MINNEAPOLIS, WITH FREE PARKING' ATTORNEYS AT LAW O'CON NOR &. HAN NAN Serving over 100 Minnesota municipalities in the areas of: o Public Financing, including tax increment financing o Telecommunications/Cable 1V law o Public Hospital representation o Energy & Utility regulatory work o Legislative representation, in Minnesota and Washington, D.C. o Environmental Law o Litigation o Real Estate matters and condemnation Contact: Thomas D. Creighton James P. O'Meara William E. FI)nn Andrew). Shea William R. McGrann 3800 IDS CENTER MINNEAPOLIS. MINNESOTA 55402-2254 16121 341-3800 34 Kinko s has opened a seventh store in the Twin Cities, at 708 W. 66th Street. There is a spacious parking lot in front of the store. Good news for all our Twin Cities customers, and especially those who live or work South of the Crosstown Highway. We have opened a store in Market Plaza, a new shopping mall at 66th Street and Lyndale Avenue South. This store will feature many of our regular services, while emphasizing fast, cooperative service to our customers. Like all our Twin Cities stores, the new location will offer free pick-up and delivery. Unlike most of them it provides plenty of parking for customers who want to do their own driving. kinko.s. copies 708 w. 66th Street 866.1900 Minnesota Cities