Label
Workers' Compensation Annual Premium
Title
Authorizing the appropriation of $4,266,583 in the Workers' Compensation Fund and the expenditure of same for the City's fiscal year 2023 workers' compensation premium payment; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The purpose of this ordinance is to authorize the appropriation and expenditure of $4,266,583 for the City's fiscal year 2023 workers' compensation payment to the Ohio Bureau of Workers' Compensation. Completing this payment in-full and at the start of the year will enable the City to receive a prepayment rebate of 2% of the premium amount, or $94,997.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the appropriation of $4,266,583 is authorized from the Workers' Compensation Fund Account Code 7082-17100-1156001STDSTD for the City of Toledo's fiscal year 2023 workers' compensation premium payment and further authorizing the expenditure of same.
SECTION 2. That the Finance Director is authorized to draw warrant or warrants against the above mentioned Account Code in payment of the above-authorized obligations in an amount not to exceed $4,266,583 upon presentation of the proper voucher or vouchers.
SECTION 3. That this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage. The reason for the emergency lies in the fact that this ordinance is necessary to timely complete payment to the Ohio Bureau of Workers' Compensation for the City's workers' compensation premium and to secure the prepayment rebate.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ ...
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