Res No 127-11-13441RESOLUTION NO. 127 -11 -13441
A Resolution relating to budget; authorizing a transfer of $31,665.00 from
account No. 001 - 1910 -521 -2210, Pension Plan Contribution, with a
balance of $159,567.00 to account No. 001 -1910 -521 -2220, Deferred
Compensation Contribution; providing for an effective date.
WHEREAS, it is requested that the budget for the Police Department's Deferred
Compensation Contribution be increased by $31,655.00 from account No. 001 -1910 -521 -2210;
and,
WHEREAS, it is essential to provide sufficient funds for the Police Department's
Deferred Compensation Contribution to maintain current contractual pay plan commitments and
department objectives; and,
WHEREAS, the Mayor and City Commission desire to transfer sufficient funds from
account No. 001- 1910 -521 -2210, Pension Plan Contribution, with a current balance of
$159,567.00, to account No. 001- 1910 -521 -2220, Deferred Compensation Contribution.
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA;
Section I. The Mayor and City Commission approve the transfer of $31,655.00 from
account No. 001- 1910 -521 -2210, Police Department Pension Plan Contribution, with a current
balance of $159,567.00, to account No. 001- 1910 -521 -2220, Police Department Deferred
Compensation Contribution with a current balance of $0.00.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 16 day of August 2011
)r
FAN ... U
COMMISSION VOTE:
5 -0
Mayor Stoddard:
Yea
Vice Mayor Newman:
Yea
Commissioner Beasley:
Yea
Commissioner Palmer:
Yea
Commissioner Harris:
Yea
South Miami
Alf- Ameetcac
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER - OFFICE MEMORANDUM 2001
To: The Honorable Mayor & Members of the City Commission
From: Hector Mirabile, Ph.D, City Manager
Date: August 2, 2011 / Agenda Item No.:
A Resolution relating to budget; authorizing a transfer of
$31,655.00 from account No. 001 - 1910 - 521 -2210, Pension
Subject: Plan Contribution, with a balance of $159,567.00 to account
No. 001 -1910 -521 -2220, Deferred Compensation
Contribution; providing an effective date.
It is essential to provide sufficient funds in the Deferred
Background: Compensation Plan account to maintain current contractual
pay plan commitments and department objectives.
Transfer Amount: $31,655.00
Transfer From: 001 -1910 -521 -2210, Pension Plan Contribution; with a
current balance of $159,567.00
Transfer To: 00 1 -11910-521-2220, Deferred Compensation Contribution