96-22236 RESO
RESOLUTION NO. 96-22236
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA,
APPROPRIATING $865,000 TO THE RESERVE FOR
CONTINGENCIES IN THE GENERAL FUND FROM THE
UNAPPROPRIATED FUND EQUITY OF THE GENERAL
FUND.
WHEREAS, the Mayor and City Commission adopted Resolution No. 96-2201401
June 5, 1996 establishing a Reserve for Contingencies of $10 million in the General Fund; and
WHEREAS, said Resolution provided for said Reserve to be adjusted annually t)
equal 11 % of the then General Fund Budget.
NOW, THEREFORE BE IT RESOLVED BY THE MAYOR AND CJT"1
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that $865,000 of the balmc.~
in the Unappropriated Fund Balance in the General Fund of the City be appropriated into the Resl:rv ~
for Contingencies in said General Fund.
Passed and Adopted this
,1996.
Mayor
Attest:
_ko ~6' ~~
City Clerk
APPROVED AS TO
FORM & lANGUAGE
& FOR exECUTION
/11/i~lY~--J- Iv')-""
,11/ mev Date
CITY OF
MIAMI BEACH
CITY HALL 't700 CONVENTION CENTER DRIVE MIAMI BEACH FLORIDA 33139
OFFICE OF THE CITY MANAGER
TELEPHONE: (305) 67 J-7010
FAX: (305) 671-nS2
COMMISSION MEMORANDUM NO. ---.J B ~ - ~ lo
December 18, 1996
To:
Mayor Seymour Gelber and
Members of the City Commission
From:
Jose Garcia-Pedrosa
City Manager
Subject:
Increasing the Appropriation into the Reserve for Contingencies in the General
Fnnd '
Administrative Recommendation
The Administration recommends that the Mayor and City Commission approve the resolution
appropriating an additional $865,000 to the Contingency Reserve in the General Fnnd.
Background
On June 5, 1996, the City Commission adopted Resolution No. 96-22014 which appropriated $.0
million into a reserve for contingencies in the General Fnnd. This resolution called for this reser Ie
to remain at 11 % of the General Fund Budget for the fiscal year. As the City's General Fnnd Budget
in the General Fund totals $98,771,278 for the 1996/97 fiscal year, the 11 % reserve should now be
$10,864,841. The additional appropriation in this resolution will increase the reserve to
$10,865,000.
Analysis
In accordance with the resolution adopted by the City Commission on Jnne 5, 1996, this action is
required to maintain the reserve for contingencies at the required level.
JGP/RJN/cp
86
Agenda Item C. l-l:'~
Date~ti!-