Res No 018-11-13332RESOLUTION NO. 18-11-13332
A Resolution of the Mayor and City Commission of the City of South
Miami, Florida, authorizing a transfer of $15,340.00 from account
number 001 - 1410 -513 -2210, Pension Plan Contribution, settlements to
account number, 001 - 1410 -513 -2220, ICMA Deferred Compensation for
$ 5,787.00 and account number, 001- 1410 -513 -1310, Salaries Part -Time
for $ 9,553.00, providing and effective date.
WHEREAS, it is requested that the budget for ICMA Deferred Compensation
Contribution and Salaries Part-Time be increased from account number 001 - 1410 - 513 -2210; and,
WHEREAS, the budgeted pension contribution for the department head was allocated
and is no longer required due to the election as per Ordinance 38 -10 -2063, which provided a one-
time opt -out from the City of South Miami Pension. Therefore the budget pension contribution
funds are being transferred to account number 001 - 1410 -513 -2220, ICMA Deferred
Compensation Contribution for $5,787.00 and account number 001- 1410 -513 -1310, Salaries Part-
Time for $9,553.00; and,
WHEREAS, the Mayor and City Commission desire to transfer sufficient funds from
account number 001 -1410 -513 -2210, Pension Plan Contribution, with a current balance of
$53,647.00, settlements to account number 001 - 1410 -513 -2220 for $5,787.00 ICMA Deferred
Compensation, with a current balance of $0 and account number 001 -1410 -513 -1310 for
$9,553.00, Salaries Part-Time, with a current balance of $21,224.32.
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 $15,340.00 from
account number 001- 1410 -513 -2210, Pension Plan Contribution, settlements to account number.
001- 1410 -513 -2220, ICMA Deferred Compensation Contribution for $ 5,787.00 and account
number 001 - 1410 -513 -1310, Salaries Part-Time for $ 9,553.00.
Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 18 day of Jan. 12011
EST: APPROVED:
CLERK MAYOR
COMMISSION VOTE: 5 -0
Mayor Stoddard: Yea
READ APPROVED AS TO,FORM: Vice Mayor Newman: Yea
Commissioner Beasley: Yea
Commissioner Palmer: Yea
TY ATTORNEY Commissioner Harris: Yea
South Miami
'FAmetlOaC
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER - OFFICE MEMORANDUM 2001
To: The Honorable Mayor & MembeRer ity Commission
Via: Hector Mirabile, PhD, City Manager tY g �-
From: Alfredo Riverol, Chief Financial O 4
Date: Januar y 10, 2011 A nda Item No.:
A Resolution of the Mayor and City Commission of the City of South
Miami, Florida, authorizing a transfer of $15,340.00 from account number
Subject: 001 - 1410 -513 -2210, Pension Plan Contribution, settlements to account
number, 001 - 1410 -513 -2220, ICMA Deferred Compensation for $
5,787.00 and account number, 001 -1410- 513 -1310, Salaries Part -Time for
$ 9,553.00, providing and effective date.
It is requested that the budget for ICMA Deferred Compensation
Contribution and Salaries Part -Time be increased from account number
001 - 1410 - 513 -2210. The budgeted pension contribution for the
department head was allocated and is no longer required due to the
Background: election as per Ordinance 38 -10 -2063, which provided a one -time opt -out
from the City of South Miami Pension. Therefore the budget pension
contribution funds are being transferred to account number 001 -1410-
513 -2220, ICMA Deferred Compensation Contribution for $5,787.00 and
account number 001- 1410 -513 -1310, Salaries Part -Time for $9,553.00.
Transfer Amount: $15,340.00
Transfer From: Account number 001 - 1410 - 513 -2210, Pension Plan Contribution, with a
current balance of $53,647.00
Account number 001 - 1410 -513 -2220 for $ 5,787.00 ICMA Differed
Transfer To: Compensation, with a current balance of $0 and account number 001-
1410 -513 -1310 for $ 9,553.00 Salaries Part -Time, with a current balance of
$21,224.32.