Coversheet


Agenda Item 3.1.8


TRANSPORTATION AGENCY FOR MONTEREY COUNTY *Memorandum*

To:	Board of Directors
From:	Rita Goel, Director of Finance & Administration
Meeting Date:	June 26, 2019
Subject:	Amended FY 2019/20 Budget Resolution 2019-05

RECOMMENDED ACTION:
ADOPT amended Resolution 2019-05 for Fiscal Year 2019-20 budget.

SUMMARY:
Pursuant to the Transportation Agency bylaws, the Board adopted the final FY2019-2020 budget and the accompanying Resolution 2019-05 on May 22, 2019. However, the adopted resolution did not list the language necessary to change the Agency’s contribution to its cafeteria health plan. The amended Resolution 2019-05 incorporates the language that was omitted from the original Resolution.

FINANCIAL IMPACT:
The change to the cafeteria health plan contribution is $32,205. This amount was approved by the Board and incorporated into the final FY 2019-2020 adopted budget.

DISCUSSION:

The Transportation Agency for Monterey County’s final budget for FY 2019-2020 was adopted by the Board of Directors on May 22, 2019. While the budget incorporated the financial impact of the health plan contributions change, the specifics of it were not listed in Resolution 2019-05.

The approval for the change to the Agency’s cafeteria health plan insurance contribution was also originally approved in the February 27, 2019 draft budget.

The requested amendment corrects Resolution 2019-05, adopted by the Board of Directors on May 22, 2019. Changes are highlighted as shown in the attached resolution.

ATTACHMENTS:
	Description
	Amended Resolution 2019-05 FY 19/20