Res No 026-12-13583RESOLUTION NO. 26 -12 -13583
A Resolution authorizing a transfer of $26,299.20 from all
City Pension Plan Contribution accounts to Deferred
Compensation Contribution accounts as shown in Exhibit A.
WHEREAS, it is requested that the budget for Deferred Compensation
Contribution accounts be increased by a total of $26,299.20 and,
WHEREAS, it is essential to provide sufficient funds for Deferred
Compensation Contribution accounts to cover the City employees who have opted out
of the pension plan; and,
WHEREAS, the Mayor and City Commission desire
to transfer
sufficient funds
from Pension Plan Contribution
accounts, settlements to
Deferred
Compensation
Contribution accounts. All transfer
information can be seen in
Exhibit A.
Vice May or Newman:
NOW THEREFORE BE
IT
RESOLVED BY
THE MAYOR AND CITY
COMMISSION OF THE CITY
OF
SOUTH MIAMI,
FLORIDA;
Section 1. The Mayor and City Commission approve the transfer of $26,299.20
from all City departments Pension Plan Contribution accounts to Deferred
Compensation Contribution accounts. All transfer information including current
account balances is set forth in Exhibit A which is attached and made part of this
resolution by reference.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 7th day of February, 2012
ATTEST: APPROVED:
CITY K- MAYOR
READ AND APP VE '
AS TO FORM,
COMMISSION VOTE:
5 -0
LA G
AND
Mayor Stoddard:
Yea
EC
Vice May or Newman:
Yea
rGA
Commissioner Beasley:
Yea
Commissioner Palmer:
Yea
/
Commissioner Harris:
Yea
South Miami
k-Americaft
CITY OF • 111!
2
OFFICE OF THE CITY MANAGER
u r.
INTER-OFFICE MEMORANDUM
To: The Honorable Mayor & Members of the City Commission
PROM: Hector Mirabile, PhD, City Manager /
DATE: January 24, 2012 /' / Agenda Item No.:
SUBJECT: A Resolution authorizing a transfer of $26,299.20 from all City Pension
Plan Contribution accounts to Deferred Compensation Contribution
accounts as shown in Exhibit A.
BACKGROUND: It is requested that the budget for Deferred Compensation Contribution
accounts be increased by a total of $26,299.20 to provide sufficient funds
for Deferred Compensation Contribution accounts to cover the City
employees who have opted out of the pension plan.
ATTACHMENTS: - Resolution for approval
- Exhibit A — includes breakdown of accounts and transfer amounts
Human Resources
Finance
Building
Planning
Code Enforcement
Public Works
Public Works
Police
Parks & Recreation
From Pension Plan
Contribution
001 - 1330.513 -2210
001 - 1410 -513 -2210
001 -1610 - 524.2210
001 - 1620 - 524 -2210
001 - 1640 -524 -2210
001 -1730 -541 -2210
001.1770 -519 -2210
001 - 1910 -521 -2210
001 -2020- 519 -2210
Exhibit A
Budget Transfer Resolution
Account Balance
$
9,599.53
$
23,191.02
$
15,252.58
$
17,429.81
$
26,342.38
$
31,292.07
$
17,644.63
$
436,499.51
$
16,519.84
To Deferred
Compensation
Contribution
001- 1330 -513 -2220
001.1410.513.2220
001 - 1610 -524 -2220
001- 1620.524 -2220
001.1640- 524.2220
001 - 1730541 -2220
001 - 1770.519 -2220
001 -1910 -521 -2220
001- 2020- SI9-2220
Account Balance Totals By Dept
$
4,155.84
$
1,273.00
$
4,724.59
$
4,161.00
$
3,905.27
$
5,114.00
$
41698.27
$
1,744.00
$
(412.78)
$
8,255.00
$
(60,00)
$
1,200.00
$
4,141,28
$
2,108.00
$
23,941.93
$
1,832.20
$
(30.58)
$
612.00
A LG147Y.4V