SEATTLE CITY COUNCIL - Record No: Res 31847

• Record No: Res 31847
• Version: 2
• Type: Resolution (Res)
• Status: Adopted
• Current Controlling Legislative Body: City Clerk
• On agenda: 11/19/2018
• Title: A RESOLUTION relating to financial policies for the Judgment/Claims Fund; revising certain policies, establishing a new policy, and requesting a ten-year policy review cycle.
• Sponsors: Sally Bagshaw
• Supporting documents: 1. Summary and Fiscal Note, 2. Signed Resolution 31847, 3. Affidavit of Publication

Date	Ver.	Action By	Action	Result
11/26/2018	2	City Clerk	attested by City Clerk
11/26/2018	2	Mayor	returned
11/26/2018	2	Mayor	Signed
11/21/2018	2	City Clerk	submitted for Mayor's signature
11/19/2018	1	City Council	adopted	Pass
11/14/2018	1	Select Budget Committee	adopt as amended	Pass
10/29/2018	1	City Council	referred
10/24/2018	1	Council President's Office	sent for review
10/22/2018	1	City Clerk	sent for review
9/24/2018	1	Mayor	Mayor's leg transmitted to Council

CITY OF SEATTLE
RESOLUTION __________________
title
A RESOLUTION relating to financial policies for the Judgment/Claims Fund; revising certain policies, establishing a new policy, and requesting a ten-year policy review cycle.
body
WHEREAS, the City Council and the Mayor are committed to high standards of financial management; and
WHEREAS, adopting and periodically updating financial policies are important steps towards assuring consistent and rational financial management; and
WHEREAS, the financial policies for the Judgment/Claims Fund are essential components of financial policies; and
WHEREAS, the City Council and Mayor have reviewed the financial policies for the Judgment/Claims Fund and wish to update and modify the policies; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEATTLE, THE MAYOR CONCURRING, THAT:
Section 1. To improve risk management controls and accountability within Seattle City government and to manage claims in a consistent and comprehensive manner, the City Council ("Council") adopts the attached policies (Exhibit A to this resolution) regarding the Judgment/Claims Fund. In so doing, the Council reaffirms certain existing financial policies for this fund and updates the policies in the following ways:
A. Policy 4 describes the revised basis upon which the judgment and claims budget will be developed.
B. Policy 6 sets a revised policy regarding fund balances.
C. Policy 10 clarifies existing policy regarding appropriate use of Judgment/Claims Fund monies.
D. Policies 12 and 13 are modified to provide revised timelines and requirements for annual reports to the Council.
E. Policy 14 is a new policy that calls for the creation of a committee to assist in Citywide risk management efforts.
Section 2. The Council requests that the City Budget Office, in conjunction with the City Attorney's Office, Department of Finance and Administrative Services, and other City departments as needed, r...