AN ORDINANCE
NO ___________
An Ordinance providing for Government funding of a Death Benefit Escrow for the
fiscal year beginning July 1, 2008:
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WHEREAS, Ordinances heretofore adopted by the Council of Columbus, Georgia
provided a Death Benefit Escrow Fund for employees; and
WHEREAS, Actuarial Consultants have evaluated the Death Benefit Escrow Plan and
the investment return assumption is 7.00% per annum and thus determined that
the amount of $ 126,615 is required to fund the Plan in fiscal year beginning
July 1, 2008. The amount to be prorated among the Consolidated Government of
Columbus, Georgia, the Columbus Board of Water Commissioners, the Hospital
Authority of Columbus, and the Columbus Airport Commission based on actual
earnings of the active participants in the Plan for the previous fiscal year is
as follows: Consolidated Government, 85 % or $107,623; Columbus Board of Water
Commissioners, 9 % or $ 11,395; Hospital Authority of Columbus, 5 % or $ 6,331
and Columbus Airport Commission, 1 % or $ 1,266.
NOW THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY
ORDAINS:
That the following named agencies shall make the following contributions for
fiscal year 2009 to the Finance Director of the Consolidated Government as
their prorated share of the cost of the Death Benefit Escrow Fund by July 15th:
Consolidated Government $ 107,623
Columbus Board of Water Commissioners $
11,395
Hospital Authority of Columbus $ 6,331
Columbus Airport Commission $ 1,266
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Introduced at a regular meeting of the Council of Columbus, Georgia, held the
10th day of June, 2008; introduced a second time at a regular meeting of said
Council held on the _____ day of June, 2008, and adopted at said meeting by the
affirmative vote of _____ members of said Council.
Councilor Allen Voting __________
Councilor Anthony Voting __________
Councilor Baker Voting __________
Councilor Barnes Voting __________
Councilor Davis Voting __________
Councilor Henderson Voting __________
Councilor Hunter Voting __________
Councilor McDaniel Voting __________
Councilor Pugh Voting __________
Councilor Woodson Voting __________
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TINY B. WASHINGTON,
CLERK JIM
WETHERINGTON, MAYOR
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