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Golden Handshake — Misc. <br />April 21, 2004 <br />Page 2 of 2 <br />made public at a public meeting at least two weeks prior to the adoption of the resolution, which <br />was presented to Council on January 18, 2005. <br />This one-time cost of $33,867 will be paid this fiscal year from each funds' reserves, but will be <br />more than offset by annual savings of approximately $127,996 in salary and benefit costs in each <br />of the future fiscal year budgets. Should the department decide to under fill the Wastewater Utility <br />Manager with the Assistant Wastewater Utility Manager or a comparable classification (annual <br />salary and benefits for this position would be $92,508), the net savings will be approximately <br />$35,488. <br />RECOMMENDATION: <br />It is respectfully recommended that the Members of the City Council hereby approve and adopt the <br />proposed Resolution formally establishing, pursuant to Government Code Section 20903, another <br />window period from February 2, 2005 to April 2, 2005 for the eligible Miscellaneous Member. <br />City Attorney: d — a Finance Director: jj� <br />City Manager: OTHER: <br />