5I.
To: The Honorable Mayor & Members of the City Commission
Via: Hector Mirabile, PhD, City Manager
From: Alfredo Riverol, CPA, Cr.FA, Chief Financial Officer
Date: July 18, 2011 Agenda Item Noo.:///
A Resolution relating to budget; authorizing a transfer of $1,000.00 from
Subject: account No. 001.1610.524.2210, Building Pension Plan Contribution,
settlements to account No. 001.1610.524.5230, Building Fuel.
It is essential to provide sufficient funds for the Fuel accounts in order to
issue payments to be incurred before the end of this fiscal year. Due to the
present status of the national and local economy compounded by the
situation in the Middle East, the price of the fuel is on an upward steady
trend. At the present time the City is paying an average of 63% more per
Background: gallon on the fuel versus the original price estimated for the 2011 budget.
Fuel was estimated at $2.25 per gallon versus the present cost of $3.67 per
gallon. The $2.25 per gallon price was the average price being paid by the
City for fuel at the time when the budget was prepared, increased by a
conservative percentage.
Transfer Amount: $1,000.00
Transfer From: Account No. 001.1610.524.2210, Building Pension Plan Contribution, with a
current balance of $ 4,281.07
Transfer To: Account No. 001.1610.524.2210, Building Fuel.
1 RESOLUTION NO.
2 A Resolution relating to the City's budget and authorizing a transfer of
3 $1,000.00 from account No. 001.1610.524.2210, `Building Pension Plan
4 Contribution ", to account No. 001.1610.524.5230, Building Fuel.
5 WHEREAS, the City's finance department has requested that the budget for Fuel
6 account be increased by $1,000.00 from account No.001.1610.524.2210; and,
7 WHEREAS, it is essential to provide sufficient funds for the Fuel account in order to
8 have sufficient funds to make payments for fuel before the end of this fiscal year due to an
9 unanticipated increase in fuel cost.
10 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
11 COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA THAT:
12 Section I. The City Manager is hereby authorized to transfer $1,000.00 from account No.
13 001.1610.524.2210, Building Pension Plan Contribution, with a current balance of $4,281.07 to
14 account No. 001.1610.524.5230, Building Fuel.
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Section 2. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this_ day of , 2011
ATTEST:
CITY CLERK
READ AND APPROVED AS TO FORM
AND SUFFICIENCY:
[on IAW.1a COMM) I1
APPROVED:
MAYOR
COMMISSION VOTE:
Mayor Stoddard:
Vice Mayor Newman:
Commissioner Beasley:
Commissioner Palmer:
Commissioner Harris: