HomeMy WebLinkAboutResolution-1987-1059
RESor>UTION NO. 1059
Series ot 1987
TI'rLg:
A RESOLo'rION ESTABLISHING A 1988 PERFORMA'\ICE BONUS
PROGRAM FOR EMPLOYEES O~ THE CITY OF WHEAT RIDGE,
COLORADO, AND DESIGNATING A MAXIMUM OF $125,000.00 FROM
SALES TAXES RECEIVED OVER fu~D ABOVE 'rHE AMOUNT OF
$5,200,000.00 DURH1G 1988 AS 'fHE SOURCE OF [i'UNDS FOR
SAID PROGRAM.
WHEREAS, the budget oftl1e City of Wheat Ridge for 1988
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 desi re of tl1e 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
turther 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, the City Council, in its effort to fulfill all
bona fide requirements incumbent upon it, wishes to establish, on
a one-time only basis, a 1988 Performance Bonus Program to be
funded to a maximum at $125,000.00 from sales tax revenues
derived and collected in excess of those projected within the
1988 budget;
NOW 'rHt:REFORE, BE I'r RESor~VED BY THE CITY COUNCIL OF THE
CITY OF WHEAT RIDGE, COLORADO, ,ns FOLLOWS:
1. There is hereby established, for fiscal and calendar
1988, the 1988 Performance Bonus Program which shall consist of
twenty-five percent of all sales taxes derived and collected in
excess of the amount of $5,200,000.00, to a maximum of
:?125,OOO.OO.
2. The tunds which constitute the 1988 Performance Bonus
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 ot Wheat Ridge during
1988.
3. Upon the amount of ~125,OOO.OO being derived for the
1988 Performance Bonus Program, any additional funds collected
through sales taxes shall be equally divided between the capital
improvement tund and the general tund.
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 1988 or succeeding years to institllte appropriate
reductions in expenditures, to be determined by the City Council
in the exercise ot its legislative discret1on, which reduction 1n
expenditures may include reductions in the number of personnel
authorized by and within the City's budget.
DONE .~D RESOL~ED this
26th day ot
Octohf'r
, 1987.
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'--: .:1;,: .,h-,La:-
Frank Sti~es, Mayor
AT'l'EST:
, / -/-. I ;, t.. t-
Wanda sa;g; Citi' Clerk
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