4CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER-OFFICE MEMORANDUM 2001
To: The Honorable Mayor & Members of the City Commission
Hector Mirabile, PhD, City Manager /Y LI
January 24, 2012 Agenda Item No.:_7---!!._
FROM:
DATE:
SUBJECT:
BACKGROUND:
ATTACHMENTS:
A Resolution authorizing a transfer of $26,299.20 from all City Pension
Plan Contribution accounts to Deferred Compensation Contribution
accounts as shown in Exhibit A.
It is requested that the budget for Deferred Compensation Contribution
accounts be increased by a total of $26,299.20 to provide sufficient funds
for Deferred Compensation Contribution accounts to cover the City
employees who have opted out of the pension plan.
-Resolution for approval
-Exhibit A -Includes breakdown of accounts and transfer amounts
1 RESOLUTION NO. ______ _
2 A Resolution authorizing a transfer of $26,299.20 from all
3 City Pension Plan Contribution accounts to Deferred
4 Compensation Contribution accounts as shown in Exhibit A.
5 WHEREAS, it is requested that the budget for Deferred Compensation
6 Contribution accounts be increased by a total of $26.299.20 and.
7 WHEREAS, it is essential to provide sufficient funds for Deferred
8 Compensation Contribution accounts to cover the City employees who have opted out
9 of the pension plan; and.
10 WHEREAS, the Mayor and City Commission desire to transfer sufficient funds
11 from Pension Plan Contribution accounts. settlements to Deferred Compensation
12 Contribution accounts. All transfer information can be seen in Exhibit A.
13 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
14 COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA;
15 Section I. The Mayor and City Commission approve the transfer of $26.299.20
16 from all City departments Pension Plan Contribution accounts to Deferred
17 Compensation Contribution accounts. All transfer information including current
18 account balances is set forth in Exhibit A which is attached and made part of this
19 resolution by reference.
20 Section 2. This resolution shall take effect immediately upon adoption.
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PASSED AND ADOPTED this __ day of ____ ,. 2012
ATTEST:
CITY CLERK
READ AND APPROVED AS TO FORM.
LANGUAGE. LEGALITY AND
EXECUTION THEREOF
CITY ATTORNEY
APPROVED:
MAYOR
COMMISSION VOTE:
Mayor Stoddard:
Vice Mayor Newman:
Commissioner Beasley:
Commissioner Palmer:
Commissioner Harris:
Exhibit A
Budget Transfer Resolution
To Deferred
From Pension Plan Compensation
Department Contribution Account Balance Contribution Account Balance Totals By Dept
Human Resources 00 I· 1330·513·221 0 $ 9,599.53 00 1·1330·513·2220 $ 4,155.84 $ 1.273.00
Finance 00 1·1410·513·2210 $ 23,191.02 00 1·1410·513·2220 $ 4.724.59 $ 4.161.00
Building 00 1·1610·524·2210 $ 15,252.58 001-1610·524·2220 $ 3.905.27 $ 5,114.00
Planning 00 1·1620-524·2210 $ 17.429.81 00 1·1620·524-2220 $ 4,698.27 $ 1.744.00
Code Enforcement 001-1640·524·2210 $ 26.342.38 00 1·1640·524·2220 $ (412.78) $ 8,255.00
Public Works 001-1730-541·2210 $ 31.292.07 001·1730·541 ·2220 $ (60.00) $ 1.200.00
Public Works 00 1·1770·519·2210 $ 17,644.63 00 1·1770·519·2220 $ 4,141.28 $ 2.108.00
Police 00 I· 191 0·521 ·221 0 $ 436,499.51 00 1·1910-521·2220 $ 23,941.93 $ 1,832.20
Parks & Recreation 001·2020·519·2210 $ 16,519.84 00 I ·2020-519·2220 $ (30.58) $ 612.00
$ 26,299.20