RESOLUTION NO.____________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FOSTER CITY AUTHORIZING THE APPROPRIATION OF FUNDING IN THE AMOUNT OF $675,000 FROM THE WORKERS COMPENSATON FUND (FUND 510) TO ACCOUNT NO. 510- 1230-415-42-62 TO PAY FOR CLAIM SETTLEMENTS AND INVOICES; APPROVE TRANSFER OF $100,000 FROM THE GENERAL FUND (FUND 001) TO FUND 510
CITY OF FOSTER CITY
WHEREAS, on August 1, 2025, workers compensation claim administration was transferred from Cities Group Joint Powers Authority (Cities Group) to the City as a self- insured employer; and
WHEREAS, the appropriation of funding is necessary to pay for claim settlements and invoices; and
WHEREAS, to have sufficient reserve balance in Fund 510 at the end of the current fiscal year 2025-2026, transfer of $100,000 from Fund 001 to Fund 510 is also requested.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Foster City does hereby authorize the appropriation of funding in the amount of $675,000 from Fund 510 to Account No. 510-1230-415-42-62 to pay for claim settlements and invoices and also authorize the transfer of $100,000 from Fund 001 to Fund 510.
PASSED AND ADOPTED as a resolution of the City Council of the City of Foster City at the regular meeting held on the 2nd day of March, 2026, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
ART KIESEL, MAYOR
ATTEST:
PRISCILLA SCHAUS, CITY CLERK