File #: 24-1190   
Status: Passed
File created: 8/21/2024 In control: Clark County Board of Commissioners
On agenda: 9/3/2024 Final action: 9/3/2024
Title: Approve a fiscal year 2025 contribution in the amount of $180,000 to the Clark County OPEB Trust Fund from the Clark County Post-Employment Benefits Reserve Fund (2990.000) and the Department of Aviation OPEB Cash Fund (5202.736) to fund administrative expenses. (For possible action)
Attachments: 1. Staff Report

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Jessica L. Colvin, Chief Financial Officer Rosemary A. Vassiliadis, Director of Aviation

Recommendation: 

title

Approve a fiscal year 2025 contribution in the amount of $180,000 to the Clark County OPEB Trust Fund from the Clark County Post-Employment Benefits Reserve Fund (2990.000) and the Department of Aviation OPEB Cash Fund (5202.736) to fund administrative expenses.  (For possible action)

body

 

 

FISCAL IMPACT:

Fund #:

2990.000

Fund Name:

Clark County Post-Employment Benefits Reserve

Fund Center:

1020520000

Funded PGM/Grant:

N/A

Amount:

$129,530.00

Description:

FY 2025 OPEB Trust Fund Contribution - Clark County

Additional Comments:

N/A

 

Fund #:

5202.736

Fund Name:

DOA OPEB Cash Fund

Fund Center:

2200400070

Funded PGM/Grant:

N/A

Amount:

$50,470.00

Description:

FY 2025 OPEB Trust Fund Contribution - Department of Aviation

Additional Comments:

N/A

 

BACKGROUND: 

The Clark County OPEB Trust Fund (OPEB TRUST) as established on March 4, 2014, and was initially funded with $20,000 for administrative expenses.  These costs include, but are not limited to, audit fees, bank fees, trustee fees, and fees paid to the OPEB Trust's investment advisor.  Subsequent contributions to the OPEB Trust were either designated for administrative costs to be held by the Clark County Cash and Investment Pool or were invested in the Retirement Benefit Investment Fund for future retiree health benefit payments.  The additional contribution of $180,000 represents thirty-six months of estimated administrative expenses to be held in the Clark County Investment Pool.