General

City of Gulfport, Mississippi Agenda 2309 15th Street Gulfport, MS 39501 City Council Wednesday, December 27, 2017 12:45 PM Gulfport City Hall Council Chambers December 27, 2017 12:45 p.m. City Hall Council Chambers 2nd Floor 1 Request - for issuance of a special check to fund Flexible Spending Account for 2018. City of Gulfport, Mississippi Page 1  MEMORANDUM DATE: December 11, 2017 TO: City Council Members FROM: Cheryl Millender, Human Resources Manager RE: Flexible Spending Account Debit Card Funding We are requesting the City Council to approve funding the FSA checking account in the amount of $116,178.32. The total employee contribution amount which employees have elected to put aside for reimbursement for 2018 is $116,178.32. Once employee payroll contributions are deducted from employees’ payroll checks these funds will be refunded to the General Fund on a monthly basis. We are also requesting approval for a special check for the aforementioned amount. IRS regulations require that the total amount of members’ annual elections must be available to them on the first day of the year and we will need to ensure that adequate funding is available, should a situation occur where reimbursement request exceed payroll deductions. While this is certainly a possibility early in the year, most plans end the year with “experience gains,” where the employee funding actually exceeds the reimbursement request. Please advise if you have any questions. cc: Linda Elias