12South Miami
To: The Honorable Mayor & Members of the ity Commission
Via: Hector Mirabile, PhD, City Manager
er
From: Alfredo Riverol, Chief Financial Off er 1
Date: January 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 - 1410-513-13 10, 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.
RESOLUTION 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 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,
10 WHEREAS, the budgeted pension contribution for the department head was allocated
11 and is no longer required due to the election as per Ordinance 38 -10 -2063, which provided a one-
12 time opt -out from the City of South Miami Pension. Therefore the budget pension contribution
13 funds are being transferred to account number 001 - 1410 -513 -2220, ICMA Deferred
14 Compensation Contribution for $5,787.00 and account number 001 - 1410 -513 -1310, Salaries Part-
15 Time for $9,553.00; and,
16 WHEREAS, the Mayor and City Commission desire to transfer sufficient funds from
17 account number 001- 1410 -513 -2210, Pension Plan Contribution, with a current balance of
18 $53,647.00, settlements to account number 001- 1410 -513 -2220 for $5,787.00 ICMA Deferred
19 Compensation, with a current balance of $0 and account number 001 - 1410 -513 -1310 for
20 $9,553.00, Salaries Part -Time, with a current balance of $21,224.32.
21 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
22 COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA;
23 Section I. The Mayor and City Commission approve the transfer of $15,340.00 from
24 account number 001 - 1410 -513 -2210, Pension Plan Contribution, settlements to account number.
25 001 - 1410 -513 -2220, ICMA Deferred Compensation Contribution for $ 5,787.00 and account
26 number 001- 1410 -513 -1310, Salaries Part -Time for $ 9,553.00.
27 Section 2. This resolution shall take effect immediately upon adoption.
W.
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PASSED AND ADOPTED this
ATTEST:
CITY CLERK
READ AND APPROVED AS TO FORM:
CITY ATTORNEY
day of , 2011
APPROVED:
MAYOR
COMMISSION VOTE:
Mayor Stoddard:
Vice Mayor Newman:
Commissioner Beasley:
Commissioner Palmer:
Commissioner Harris: