Item 20 - Appropriation of Additional Funds for Employee Computer Purchase Program
- AGENDA REPORT
CITY OF POW A Y
This report is included on the Consent Calendar. There will ~ no separ~e discussion of the report prior to approval by the
City Council unless members of the Council, staff or public ~eques.t It to be removed fr?":l ~e ~onsent Calendar and
discussed separately. If you wish to have this report pulled for dlscus~lon, pl.ease fill out a slip indIcating the report number
and give it to the City Clerk prior to the beginning of the City CounCIl meeting.
TO: Honorable Mayor and Member~e City Council
FROM: James L. Bowersox, City Man
INITIATED BY: Peggy A. Stewart, Director of Administrative servic7~})
Peter Moote, Senior Management Analyst
OATE: March 23,1993
SUBJECT: Appropriation of Additional Funds for Employee Computer
Purchase ProQram
ABSTRACT
It is recommended that the City Council authorize the appropriation of an
additional $30,000 for the Employee Computer Purchase Program.
BACKGROUND
On September 15, 1992, the City Council approved the establishment of an
Employee Computer Purchase Program. Funds in the amount $50,000 are
appropriated in the form of a loan from the Capital Replacement Fund for the
program, which enables City employees to borrow up to $2,500 for the purchase
of home computers and business software. All funds used for the program are
recovered through repayment of the loans.
FINDINGS
The Employee Computer Purchase program has been highly successful in its first
5 months of operation. The program goal of encouraging City employees to
purchase home PCs in order to increase their proficiency in the use of PCs and
PC business software is being achieved. To date, 28 employees have
participated in the program, and the original $50,000 appropriated for the
program has been fully encumbered. Additional funding would permit the
issuance of additional loans which would otherwise be delayed pending the
return of funds through loan repayments. It is anticipated that no additional
appropriations will be necessary based on the flow of loan payments now
becoming available for reissue.
ACTION:
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Agenda Report
March 23, 1993
Page 2
FISCAL IMPACT
An additional appropriation of $30,000 from the Capital Replacement Fund is
proposed. All funds appropriated for the program will be recovered through
the repayment of employee loans which include interest payments sufficient to
offset interest income earned through the City's investment portfolio.
PUBLIC NOTIFICATION AND CORRESPONDENCE
None
RECOMMENDATION
It is recommended that the City Council authorize the appropriation of $30,000
from the Capital Replacement Fund for the Employee Computer Loan Program.
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MAR ;l. 3 1993 ITEM 20.1