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CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER-OFFICE MEMORANDUM
The Honorable Mayor & Members of the City Commission
Hector Mirabile. Ph.D. City Manage~? I
August 2. 20 I I Agenda Item No.:L
A Resolution relating to budget; authorizing a transfer of
$31.655.00 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 an effective date.
It is essential to provide sufficient funds in the Deferred
Compensation Plan account to maintain current contractual
pay plan commitments and department objectives.
Transfer Amount: $31.655.00
Transfer From:
Transfer To:
001-1910-521-2210. Pension Plan Contribution; with a
current balance of $159.567.00
001-11910-521-2220. Deferred Compensation Contribution
2001
1 RESOLUTION NO. ______ _
2 A Resolutiou relating to budget; authorizing a transfer of $31,665.00 from
3 account No. 001-1910-521-2210, Pension Plan Contribution, with a
4 balance of $159,567.00 to account No. 001-1910-521-2220, Deferred
5 Compensation Contribution; providing for an effective date.
6 WHEREAS, it is requested that the budget for the Police Department's Deferred
7 Compensation Contribution be increased by $31,655.00 from account No. 001-1910-521-2210;
8 and,
9 WHEREAS, it is essential to provide sufficient funds for the Police Department's
10 Deferred Compensation Contribution to maintain current contractual pay plan commitments and
11 department objectives; and,
12 WHEREAS, the Mayor and City Commission desire to transfer sufficient funds from
13 account No. 001-1910-521-2210, Pension Plan Contribution, with a current balance of
14 $159,567.00, to account No. 001-1910-521-2220, Deferred Compensation Contribution.
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16 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
17 COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA;
18 Section I. The Mayor and City Commission approve the transfer of $31,655.00 from
19 account No. 001-1910-521-2210, Police Department Pension Plan Contribution, with a current
20 balance of $159,567.00, to account No. 001-1910-521-2220, Police Department Deferred
21 Compensation Contribution with a current balance of $0.00.
22 Section 2. This resolution shall take effect immediately upon adoption.
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PASSED AND ADOPTED this __ day of ___ --', 2011
ATTEST:
CITY CLERK
READ AND APPROVED AS TO FORM,
LANGUAGE, EXECUTION AND LEGALITY:
CITY ATTORNEY
APPROVED:
MAYOR
COMMISSION VOTE:
Mayor Stoddard:
Vice Mayor Newman:
Commissioner Beasley:
Commissioner Palmer:
Cormnissioner Harris: