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Homewood staff proposes tiered year‑end bonuses from projected surplus; cap discussed
Summary
City staff presented a resolution to authorize tiered year‑end bonuses contingent on closing fiscal year 24‑25 with a general fund surplus (staff estimated a $2,780,000 surplus). The resolution in the transcript caps payouts at $365,000; one staff member said they increased that cap to $420,000. No recorded vote appears in the provided transcript.
City staff brought a resolution to the Homewood City Council at the Nov. 24 pre‑council meeting recommending the payment of tiered year‑end bonuses to employees if the city closes fiscal year 24‑25 with a general fund surplus.
Staff said the city expects a surplus of $2,780,000 and that the resolution sets a maximum aggregate payout not to exceed $365,000 as written. During discussion a staff member stated the cap was increased to $420,000. Presenters also said that some payroll taxes (employee and employer portions) were not initially included in the cited cap, and the city will cover those taxes so employees receive the net amounts described in the resolution. Staff emphasized the administrative need to approve the resolution promptly so checks could be cut in time for the holiday season.
Council members affirmed the routine nature of the bonus program — a practice in place during prior years — and asked clarifying questions about the funding and timing. The transcript does not record a motion, vote, or final numeric table of tier amounts; some example net checks are referenced in the discussion but the transcript presents those amounts unclearly. The formal council record should include the adopted resolution text, final aggregate cap, and the tier schedule.
Next steps: staff indicated the resolution is before the council for action; the provided transcript does not record whether the council adopted the resolution during the meeting.
