CITY OF SEATTLE
RESOLUTION __________________
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A RESOLUTION adopting revised financial policies for the Emergency Fund.
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WHEREAS, the Mayor and City Council are committed to maintaining high standards of financial management; and
WHEREAS, adopting and periodically updating financial policies are important actions that help to ensure consistent and rational financial planning and management; and
WHEREAS, Resolution 31717 revised financial policies for the Emergency Subfund; and
WHEREAS, as part of the City's conversion from SUMMIT to PeopleSoft 9.2, the Emergency Subfund was renamed the Emergency Fund; and
WHEREAS, the City has declared a State of Emergency in response to the 2020 COVID-19 pandemic; and
WHEREAS, the Mayor and City Council wish to use some of the resources contained in the Emergency Fund to address the City's response to the COVID-19 emergency in 2020 and 2021; and
WHEREAS, the City will not be able to restore the balance of the Emergency Fund according to the policy adopted in 2017 for several years; and
WHEREAS, the Mayor and City Council have reviewed the financial policies for the Emergency Fund and wish to revise and update those policies; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SEATTLE, THE MAYOR CONCURRING, THAT:
Section 1. Section 1. The City Council ("Council") finds and declares:
A. In the exercise of The City of Seattle's police powers, the City may pass regulations designed to protect and promote public peace, health, safety, and welfare.
B. On January 24, 2020, the Seattle Office of Emergency Management announced that the first reported case in Washington and in the United States of novel coronavirus (COVID-19) occurred in Snohomish County.
C. On February 28, 2020, Public Health - Seattle and King County announced the first King County and United States death due to COVID-19 at Evergreen Hospital in Kirkland, Washington.
D. On February 29, 2020, Washington Governor Jay...
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