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Adopt Resolution appointing the Executive Director of Finance as Plan Administrator for <br />Employee Savings Plans. <br />August 1, 2023 <br />Page 2 <br />3 <br />6 <br />3 <br />1 <br />manager, in compliance with the provisions of the state constitution and <br />laws of the state governing the handling, depositing, and securing of <br />public funds” <br />Staff recommends adoption of the proposed resolution to formalize the delegation of <br />authority to administer the employee savings plans. Administration includes withholding <br />employee contributions from pay, settlement of plan transactions, making administrative <br />changes to plan documents to conform to law and best practices, and selection of third- <br />party record keepers and investment advisors. The Executive Director of Finance is <br />advised by an internal committee comprised of the Human Resources Director and two <br />of his appointees, the Assistant Director of Finance, and one additional appointee from <br />Finance. <br /> <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact associated with the recommendation. <br />EXHIBIT(S) <br />1. Resolution <br />Submitted By: Kathryn Downs, Executive Director of Finance and Management <br />Services <br />Approved By: Kristine Ridge, City Manager