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INSURANCE <br />For their own protection, employees should provide adequate insurance coverage to protect their purchases <br />against damages due to theft, fire, flood etc. The City does not assume any liability for damage or theft of <br />items purchased under this program. All agreed-upon payroll deductions will continue through final <br />payment even if the items funded from this program are not available for the employee's use for any reason <br />whatsoever. <br />TAX IMPLICATIONS <br />Questions regarding tax consequences of participating in this program should be directed to a reputable tax <br />advisor. <br />LOAN AGREEMENT <br />Employees will enter into a loan agreement that fully sets forth: <br />Amount and term of loan, and resulting amount of payroll deductions. <br />• Employee's authorization for the payroll deduction to occur. <br />• Equipment funded under the loan <br />• Employee's understanding and agreement with all of the terms of the City's employee computer <br />loan program. <br />• Approval of the loan agreement by the Finance Director. <br />PROGRAM ADMINISTRATION <br />The Finance Department is responsible for administering this program. The Finance Director is authorized <br />to make minor administrative changes to the program, which will make it run more efficiently or reflect <br />changes in policies and procedures in other areas of the City's operations, provided that any such changes <br />do not affect program objectives or key features. <br />