Title
Resolution authorizing PrimePay as the administrator of the City's Flexible Spending Account (FSA) for City employees effective January 1, 2017.
Summary
Description of Topic: (who, what, where, when, why and how much)
Resolution authorizing PrimePay as the administrator of the City's Flexible Spending Account (FSA) for City employees effective January 1, 2017.
Budgetary Impact: N/A
Non-Capital Item:
__X_ Budgeted under account #01-620-3130
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.
____ Not budgeted requiring increase to account #___________ in the amount of $____________.
Capital - Departmental
____ Budgeted under account #______________ for $___________ and described in budget as __________________________________.
Additional amount needed, if any: Increase in budget of $_____________ OR, transfer of $___________ from Account #____________ to Account #_______________
____ Not Budgeted - account #____________ requires budget increase of $_____________.
Capital Project - **THE PRE-PROJECT CHECKLIST AND BUDGET CHECKLIST MUST BE ATTACHED TO THIS FILE**
In current year Capital Projects Plan:
_____ Yes, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________
Body
WHEREAS, Human Resources desires to use PrimePay as the administrator of the City's Flexible Spending Account (FSA) for City employees effective January 1, 2017, and
WHEREAS, PrimePay provides a $2.00 savings per employee per month in administrative fees netting an annual savings of $3,360 over our current administrative costs.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Authorizes PrimePay as the administrator of the City's Flexible Spending Account (FSA) for City employees effective January 1, 2017 as shown on the attached proposal which becomes a part of this resolution upon adoption.
SECTION 2: This Resolution shall become effective immediately upon its adoption as required by law.