HomeMy WebLinkAbout1988-02-11 - Resolution No. 88-05•
RESOLUTION NO.
RESOLUTION OF THE BOARD
OF THE
YORBA LINDA WATER
COMPENSATING EMPLOYEES AFFECTED
INCLUSION OF PERSONAL USE OF
9
88-5
OF DIRECTORS
DISTRICT
BY THE 1987 FORM W-2
DISTRICT VEHICLES
WHEREAS, Internal
Revenue
Code Section 1.61-2T
requires that the fair
market
value of
a fringe benefit, such as
an employer-provided
car, is
includible
in the employee's gross
income; and
WHEREAS, the employees of Yorba Linda Water District were not notified
of their impending tax liability in 1987; and
WHEREAS, it is not the intent of the District to effectively reduce the
income of any employee without proper notification,
NOW, THEREFORE, be it resolved by the Board of Directors of the Yorba Linda
Water District as follows:
Section 1_: For 1987, the District will compensate all employees
affected by the inclusion of the fair market value of the personal use of
District vehicles in the gross income of the employee.
Section 2-: The payment to each employee will be 30% of the amount
included in their 1987 Form W-2. The 30% is an approximation of the
effective tax rate of all employees.
Section 3: The payments are to be made as follows and will be
included in the pay period immediately following the date of this
resolution:
Blundo, Vince
$ 57.10
Harsma, Ray
57.87
Harris, Juanita
86.81
Hawkins, Jim
27.02
Herrera, Frank
51.74
Korn, Arthur C.
59.17
McDavid, Jack
138.54
McDonald, Jeff
115.09
McGlasson, Dennis
312.36
Payne, Mike
37.00
Robertson, Bill
93.18
Shook, Ralph
76.40
t
PASSED AND ADOPTED this 1 1 th of February, 1988 by the following called
vote;
P. Armstrong, W. Cromwell, S. Fox, R. Knauft
Arthur C. Korn
President
Yorba Linda Water District
Ilk
Secretary ✓
Yorba Linda Water District