§ 3.87.070. Audit, amendment and termination of the police and fire retiree medical funding program.

A.

Assembly review.

1.

Every five years from January 1, 1995, the assembly will review the operation of the program including the amount of the initial monthly contribution established in Section 3.87.060 to be made by the municipality.

B.

Internal audit review.

1.

The Internal Auditor will perform an audit of the trust at least once every two years. The scope of the audit may include, but is not limited to, evaluating trust administrative costs, and reviewing enrollment and payment records for members purchasing health insurance through the Municipality.

2.

The results of the biennial internal audit procedures shall be submitted to the Board of Trustees and Municipal Assembly.

C.

The municipal assembly may amend or terminate the police and fire retiree medical funding program. The administrative expenses for termination of the funding program shall be the responsibility of the municipality. The termination or amendment of the program shall not terminate the obligation of the municipality to contribute at the same level of contribution set forth in subsections 3.87.060A.3. and A.4. to a successor funding arrangement. The provisions of this chapter shall be subject to Article XII, Section 7 of the Alaska State Constitution.

(AO No. 94-222(S-1), § 1, 12-28-94; AO No. 2003-141, § 1, 10-21-03; AO No. 2008-100(S), § 4, 1-10-10)

Note— Formerly § 3.87.080.