99-23082 RESO
RESOLUTION NO.
99-23082
A RESOLUTION OF THE MA VOR AND CITY COMMISSION,
APPROPRIATING AN ADDITIONAL $855,000 TO THE
RESERVE FOR CONTINGENCIES IN THE GENERAL FUND
FROM THE UNAPPROPRIATED FUND BALANCE OF THE
GENERAL FUND.
WHEREAS, the Mayor and City Commission adopted Resolution No. 96-22014 01
June 5, 1996, establishing a Reserve for Contingencies of $1 0 million in the General Fund; and
WHEREAS, said Resolution provided for said Reserve to be adjusted annually to equal ] 1 ~ )
of the current General Fund Budget; and
WHEREAS, said Resolution provides for the appropriation of an additional $855,000 whic 1
will bring the said Reserve to $12,234,000 which is 11 % of the fiscal 1998/99 General Fund Bud ge ,
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND ClTv
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that an additional $855,00)
of the balance in the Unappropriated Fund Balance in the General Fund of the City be appropriate 1
into the Reserve for Contingencies in said General Fund.
PASSED AND ADOPTED THIS 3rd DAY OF
March
1999.
1J( Mayor
Attest:
~d PCU~
City Clerk
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
1/(~... ~
~ITY OF MIAMI BEACH
;ITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
Ittp:\\c:i, miami-beach. fl, us
COMMISSION MEMORANDUM NO. 170 -qq
TO:
Mayor Neisen O. Kasdin and
Members of the City Commission
/
/.~
.'/
DATE: March 3,1999
FROM:
Sergio ROdriguez~
City Manager r
SUBJECT:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION,
APPROPRIATING AN ADDITIONAL $855,000 TO THE RESERVE FOR
CONTINGENCIES IN THE GENERAL FUND FROM THE
UNAPPROPRIATED FUND BALANCE OF THE GENERAL FUND.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution,
BACKGROUND:
On June 5,1996, the City Commission adopted Resolution No, 96-22014 which appropriated $lO
million into a reserve for contingencies in the General Fund. This resolution called for this reseue
to remain at 11 % of the General Fund Budget for the current fiscal year. The current reserve br
contingencies is $11,379,000. As the City's General Fund Budget totals $111,209,338 for the
1998/99 fiscal year, the 11 % reserve should now be $12,234,000. The additional appropriation Jf
$855,000 in this resolution will bring the reserve to the required amount of $12,234,000.
ANAL YSIS:
In accordance with the resolution adopted by the City Commission on June 5, 1996, this action is
required to maintain the reserve for contingencies at the required level.
SRJ~DW/JQ\I /
iYu 'it
AGENDA ITEM ~~
DATE 3- ).~9_