HomeMy WebLinkAboutResolution-1988-1119
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RESOLUTION NO. 1119
Series of 1988
'TITLE:
A RESOLUTION ESTABLISHING A 1989 CONTINGENT
COMPENSATION PROGRAM FOR EMPLOYEES OF THE CITY OF WHEAT
RIDGE, COLORADO, AND DESIGNATING A MAXIMUM OF
$125,000.00 FROM SALES TAXES RECEIVED OVER AND ABOVE
THE AMOUNT OF $5,200 000.00 DURING 1989 AS THE SOURCE
OF FUNDS FOR SAID PROGRAM.
WHEREAS, the budget of the City of Wheat Ridge for 1989
projects sales taxes collections in the amount of $5,200.000.00;
WHEREAS, said sales taxes, together with other sources of
revenue, fund the operations of the City. including the payment
of wages and benefits to employees;
WHEREAS, it is the desire of the City Council of the City of
Wheat Ridge to implement a matrix system of compensation for the
employees of the City of Wheat Ridge;
WHEREAS, adequate funding of said matrix in a manner
allowing proper recognition of outstanding performance, and
further allowing for progression through the pay grades
established by the City Council, is dependent upon sufficient
generation of revenues, through sales taxes and other sources, to
enable the City Council to budget amounts sufficient to fund said
matrix and at the same time to provide programs and services for
the citizens of the City, all being accomplished within a
balanced budget, as required by the City's Charter;
WHEREAS, because of budget constraints faced by the City at
the time of adoption of the 1989 budget, the City Council has
determined, in the exercise of its legislative judgment, that
adequate sources of funds do not exist at this time to fund with
certainty the matrix for 1989;
WHEREAS, the City Council in its effort to provide
incentives for outstanding performance by employees of the City
while meeting all other bona fide requirements incumbent upon it.
wishes to establish, on a one-time only basis, a 1989 Contingent
Compensation Program to be funded to a maximum of $125,000.00
from sales tax revenues derived and collected in excess of those
projected within the 1989 budget;
WHEREAS, it is the intent of the City Council of the City of
Wheat Ridge that implementation of this one time only Contingent
Compensation Program will provide a source of revenues to fund
payments to employees for what was formally known as merit
increases, which merit increases, because of serious budget
concerns, could not be funded in previous fiscal years;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WHEAT RIDGE, COLORADO, AS FOLLOWS:
1. There is hereby established, for fiscal and calendar
1989, the 1989 contingent compensation Program which shall
consist of twenty-five percent (25%) of all sales taxes derived
and collected in excess of the amount of $5,200,000.00, to a
maximum of $125,000.00.
It is further provided that the Cont'in(12nt Co:'pc:nsation Program
created hereby shall not be funded until any and all amounts of
sales taxes required to secure the repayment of principal and
interest due on any sales tax revenue bonds issued, or to be
issued, by the City have been collected.
2. The funds which constitute the 1989 Contingent
Compensation Program shall be utilized by the City Administrator
in implementing the matrix pay plan adopted by the Wheat Ridge
City Council in an equitable manner so as to recognize the
outstanding performance by the employees of the City of Wheat
Ridge during 1989; provided, however, that any payments to
individual employees resulting from this 1989 Contingent
Compensation program shall not become part of any employee's base
payor salary, shall not constitute a movement through the
established pay grades, and shall not be considered a permanent
salary increase
3. Upon the amount of $125,000.00 being derived for the
1989 Contingent Compensation Program, any additional funds
collected through sales taxes shall be equally divided between
the capital improvement fund and the general fund.
4. In the event that sales taxes derived and collected do
not reach the amount of $5,200,000.00, it shall be necessary
during 1989 or succeeding years to institute appropriate
reductions in expenditures, to be determined by the City Council
in the exercise of its legislative discretion. which reduction in
expenditures may include reductions in the number of personnel
authorized by and within the City's budget.
DONE AND RESOLVED this -1i~~ day of
October:.-______, 1988.
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Dan Wilde, Mayor
ATTEST: (
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