We’re building a better website to serve you! Preview the new Lakewood.org here, and let us know what you think.

Skip to main content
 

Chapter 3.24 - Funds

3.24.010 Investment authority
A. The City Treasurer is authorized to invest municipal funds coming into his possession in bonds and other obligations of the following federal agencies:
Federal National Mortgage Association
Federal Home Loan Banks
Federal Land Banks
Farm Credit Administration
Banks for Cooperatives
Intermediate Credit Banks
B. In investing municipal funds in such agencies, the City Treasurer shall comply in all respects with the applicable statutes of the State of Colorado. (Res. 76-174 §§ 1, 2, 1976).

3.24.020 Self-insurance funds established
The city shall maintain three funds as part of the overall self-insurance program. These funds are entitled the "Medical and Dental Self-Insurance Fund", the "Property Casualty Self-Insurance Fund", and the "Workers' Compensation Self-Insurance Fund." The purpose of these funds shall include, but not be limited to, payment of claims, administrative expenses, legal expenses and payment for prevention efforts. (Ord. O-2006-22 § 1, 2006; Ord. O-92-12 § 1, 1992).

3.24.030 Self-insurance funds-Funding
Upon direction of the City Manager, through the budgeting process, the Finance Director is authorized to collect from the General Fund the budget amounts to the Property and Casualty and Workers' Compensation Self-Insurance Funds and to collect from any Fund, where associated wages are paid, the budget amounts to the Medical and Dental Self-Insurance Fund. (Ord. O-2006-22 § 2, 2006; Ord. O-92-12 § 2, 1992).


3.24.040 Self-insurance funds-Expenditure
The Finance Director, is authorized to make such payments from the self-insurance funds as may be necessary to pay premiums, claims, judgments, settlements, legal fees and any other self-insurance related program expenses, at the direction of the City Manager. (Ord. O-92-12 § 3, 1992).


3.24.050 Self-insurance fund-Compromise, settlement authority
The City Manager, in consultation with appropriate staff, is authorized to approve compromises and settlements not to exceed the property and casualty program self-insured retention. The City Manager has the authority to delegate portions of this settlement authority to the Director of Employee Relations or to the Director of Employee Relations' designee, as appropriate. (Ord. O-2006-22 § 3, 2006; Ord. O-92-12 § 4, 1992).

3.24.051 Self-Insurance reserve fund-Property and casualty and workers' compensation fund collect authority
The City Manager is authorized to collect funds from the General Fund to the Self-Insurance Reserve Fund for Property and Casualty and Workers' Compensation, as per the approved budget. (Ord. O-2006-22 § 4, 2006; Ord. O-92-12 § 5, 1992).

3.24.052 Self-Insurance reserve fund-Fund-Medical and dental fund collect authority
The City Manager is authorized to collect funds from any Fund, where associated wages are paid, to the Self-Insurance Reserve Fund for Medical and Dental, as per the approved budget. (Ord. O-2006-22 § 5, 2006; Ord. O-86-91 § 2, 1986).

3.24.053 Self-Insurance reserve fund-Payment of medical and dental claims
Claims shall be paid out of the City's Self-Insurance Fund to claimants by the third-party claims administrator from a claims payment account established for that purpose. The third-party claims administrator shall have the authority to pay any claims up to and including two thousand five hundred dollars. Claims between two thousand five hundred one dollars and ten thousand dollars shall be paid by the third-party claims administrator after receiving approval from the Director of the Department of Employee Relations. Claims above ten thousand one dollars shall be paid by the third-party claims administrator after receiving approval of the City Manager. (Ord. O-2006-22 § 6, 2006).

3.24.054 Self-insurance reserve fund-Payment of claims
Claims shall be paid out of the city's Self-Insurance Reserve Fund as provided for under the Colorado Workmen's Compensation Act, C.R.S. 8-40-101, et seq., without need of authorization of City Council. Claims shall be paid to claimants by the third-party claims administrator from a claims payment account established for that purpose. The third-party claims administrator shall have the authority to pay any claim up to and including two thousand five hundred dollars. Claims between two thousand five hundred one dollars and ten thousand dollars shall be paid by the third-party claims administrator after receiving approval from the Director of the Department of Employee Relations. Claims above ten thousand one dollars shall be paid by the third-party claims administrator after approval of the City Manager. (Ord. O-93-26 § 26, 1993; Ord. O-86-91 § 5, 1986).

3.24.055 Self-insurance reserve funds-Claims payment accounts
The City Manager is authorized to establish claims payment accounts with designated third-party administrators as required for the timely payment of claims against the city. (Ord. O-92-12 § 6, 1992).

3.24.056 Self-insurance reserve funds-Personnel
The City Manager is authorized to employ necessary personnel to administer the city's self-insurance program and the reserve funds that are part of that program. (Ord. O-92-12 § 7, 1992).

3.24.057 Self-insurance reserve fund-Safety program
The City Manager is authorized to establish a safety program to aid in decreasing the number of job-related injuries and hazards to the employees of the city of Lakewood. (Ord. O-86-91 § 8, 1986).

3.24.060 Water acquisition fund-Established
There is established a water acquisition fund, for the purpose of acquiring, whether by lease, purchase or otherwise, water and water rights for municipal purposes and for the payment of incidental and necessary expenses in and in connection with such acquisitions, including but not limited to brokers' commissions, attorneys' and engineers' fees, and other costs and expenses. (Ord. O-82-84 § 1, 1982; Ord. O-76-63 § 1, 1976).


3.24.070 Water acquisition fund-Expenditure
The City Manager is authorized to expend such sums from the water acquisition fund as may be necessary or proper, in his judgment, to acquire water and water rights, whether by lease, purchase or otherwise, from time to time, and for the payment of necessary and incidental expenses in or in connection therewith, including but not limited to engineering fees and costs, attorneys' fees, brokerage fees and commissions, and such other costs and expenses of acquisition as may seem to him necessary or proper in connection therewith. The Treasurer and Director of Finance are authorized to make payments, from time to time, from the fund for such purpose at the direction of the City Manager. (Ord. O-76-63 § 3, 1976).

3.24.080 Water acquisition fund-City Manager's responsibility
The City Council finds and declares that in the acquisition of water and water rights it is not always possible, desirable or feasible to take all title curative and other steps which might be necessary to assure the complete perfection of title, nor is it always possible to be certain of the amount of water available for application to a changed use or at a different place, without jeopardizing the ability to acquire the same. The City Manager is therefore authorized to use his best judgment to determine the extent to which the perfection of title, or completeness of title examination, or assurance of title, or assurance of convertibility of acquired water rights in terms of consumptive use factor and applicability to a changed use or in a changed location may be assured, and to acquire water and water rights upon such basis as a reasonably prudent man acquiring rights for himself would act. In so doing, the City Manager is relieved from any liability for title failure, mistake in judgment, or responsibility for any erroneous assessment of the convertibility of the acquired right or rights to the uses of the city, when he has acted in good faith upon the best advice available to him at the time, and in the exercise of his best judgment. (Ord. O-76-63 § 4, 1976).