Res. No. 186-99-108091 RESOLUTION NO.186-99-10809
2
3A RESOLUTION OFTHEMAYORANDCITY COMMISSION OF
4THECITYOFSOUTHMIAMI,FLORIDA.RELATING TOESCROW
5FUNDS;AUTHORIZINGTHECITY MANAGER TOCREATE
6 SEPARATE ESCROWACCOUNTSFORTHE COMMUNITY
7 RELATIONS BOARD,HISTORIC PRESERVATION BOARD,AND
8COMMISSIONFORWOMEN;TOBEUSEDTOENCUMBERTHEIR
9REMAININGBALANCEFORFISCALYEAR 1998/1999 BUDGET
10 FOR FUTURE USE;PROVIDING AN EFFECTIVE DATE.
11
12 WHEREAS,theCity Commission allocated thesumof $5,000.00 eachforthe
13 Community Relations Board,Historic Preservation Boardandthe Commission for
14 Women in the 1998/99 fiscal year budget for use to facilitate some of their goals and
15 objectives;and
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17 WHEREAS,these boards have expended some ofthe funds allocated to them,and
18 have expressed desires to transfer any unused funds in the current fiscal year to escrow
19 accountsforuseinfutureyears;and
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21 WHEREAS,the City Administration wishes toopen three separate escrow
22 accounts to account for the remaining balance from these boards current fiscal year
23budget.
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25 NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
26COMMISSIONOFTHECITYOFSOUTHMIAMI,FLORIDA;
27
28Section 1.TheCity Manager is hereby authorized tocreateEscrow Accounts
29forthe remaining balance allocated forthethree boards referenced aboveinthe
30 1998/1999 Fiscal Year's budget.
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32 Section 2.This resolution shall take effect immediately upon approval.
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34 PASSED AND ADOPTED this 21stday of September 1999.
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36 ATTEST:j APPROVED:^
38 AMOI^jU^^^\„J^j&^4Z*'
39CITYCLERK (J MAYOIT
40
41 Commission Vote:5-0
42 READ AND APPROVED ASTO FORM:Mayor Robaina:Yea
43 fZ^>^-^Vice Mayor Oliveros:Yea
44 gr^a /•gggiZ/^gr Commissioner Feliu:Yea
45 CITY ATTORNEY Commissioner Bethel:Yea
46 Commissioner Russell:Yea
Additions shown by underlining and deletions shown by overstriking.
jCTfMOT^
CITY OF SOUTH MIAMI
INTER-OFFICE MEMORANDUM
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To:Mayor and City Commission Date:September 17,1999
From:Charles D.Scurr /*")Re:AGENDA ITEM #|
City Manager /j/j f]\^city Commission meeting
JV^Of Sept.21,1999
Resolutionregarding
Escrow of funds.
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REQUEST
The attached resolution seeks the City Commission's authorization for the City Manager to
create separate escrow accounts to reserve the unused funds allocated tothe Commission for
Women,Community Relations Board,and the Historic Preservation Board in the 1998/99 fiscal
year budget.
BACKGROUND
The City Commission approved the sum of $5,000.00 each for the three boards listed above for
use in their day-to-day operations.The boards have expended some of the allocated funds,and
are planning to spend more before the end of the fiscal year.However,in anticipation of not
using the total budget approved for them by the City Commission,the boards have expressed
desires to encumber any unused funds for use in the future.In order to encumber these funds,it
is essential that separate accounts be created within our general ledger system.
ANALYSIS
The reserve amount for each of these boards will be their unused funds in the following accounts.
Commission for Status ofWomen -Account Number 001-1100-511-9910 titled
"ContributionSpecialEvents".
Community Relations Board -Account Number 001-2100-519-8310,titled "Seed
Funds".
Historic Preservation Board -Account Number 001-1100-511-9910 titled
"Contribution SpecialEvents".
CONCLUSION AND RECOMMENDATION
Approval is recommended.