2.42.060 Powers and duties of the board of trustees.
   A.   In addition to the powers set forth in the trust document and as limited thereby, the board shall have the following powers and duties:
   1.   Administer the trust fund pursuant to this chapter and the trust document.
   2.   Provide financial oversight of the trust fund by evaluating claim expenses and reserve amounts.
   3.   Review the trust fund at least quarterly to ensure sufficient funds exist to pay outstanding and future benefits, to pay losses or claims or any combination of insurance and direct payment, and to pay expenses related to risk management consultation, third party administration, or other expenses of the health benefits plan.
   4.   Make recommendations to the city manager on financial issues relating to the health benefits plan, including appropriate premiums required to fund the expenses of the health benefits plan claims.
   5.   Comply with all requirements of state and federal laws relating to self-insurance programs for the management and administration of the health benefits plan or other self-insured system.
   6.   At least annually ensure that an external audit of the trust fund is conducted and retain the audit report for a period of at least five years.
   B.   The board may:
   1.   Adopt rules and policies for the operation of the board that are not inconsistent with the city charter, the city code, any city ordinance or resolution or state laws.
   2.   Appoint such advisory or work committees necessary or appropriate to assist in performing its duties.
   3.   Request the city manager to designate city staff to perform assignments necessary or appropriate to the administration of the trust fund.
   4.   Delegate its duties and responsibilities solely in a manner consistent with its fiduciary responsibilities.
(Ord. 1397.02.14 § 1 (part), 2017)