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Subject: Communication from the Finance Director requesting to refer Section 46-64 of the City of Racine Municipal Code to the Finance and Personnel Committee at their next scheduled meeting on Monday, November 11, 2013 for revocation. (Ord. 17-13)
Recommendation of the Finance & Personnel Committee on 11-11-13: Section 46-64 of the City of Racine Municipal Code be amended from 25 percent to 5 percent of the health insurance fund appropriations adopted for the subsequent budget year.
Fiscal Note: Stop Loss Insurance policies have reduced the need to carry reserves of 25 percent.