2000-23780 RESO
RESOLUTION NO. 2000-23780
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA, APPRO-
PRIA TING AN ADDITIONAL $925,000 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 on
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
II % of the current General Fund Budget; and
WHEREAS, said Resolution provides for the appropriation of an additional $925,000 which
will bring the said Reserve to $13,159,000, which is 11 % of the Fiscal Year 1999/00 General Fund
Budget.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that an additional $925,000
of the balance in the Unappropriated Fund Balance in the General Fund of the City be appropriated
into the Reserve for Contingencies in the General Fund.
PASSED AND ADOPTED THIS 26th DAY OF January 2000.
I~~
Mayor
Attest:
ll~kl Y rLlldLR
City Clerk
APPROVED AS 10
FORM & LANGU.AGE
& FOR EXECUTION
~~ ~()
CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
http:\\ci.mlaml-beach.f1.us
COMMISSION MEMORANDUM NO. -.9 3 -00
TO:
Mayor Neisen O. Kasdin and
Members of the City Commission
DATE: January 26, 2000
FROM:
Lawrence A. Levy %
City Manager
SUBJECT:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, APPROPRIATING AN ADDITIONAL
$925,000 TO THE RESERVE FOR CONTINGENCIES IN THE GENERAL
FUND FROM THE UNAPPROPRIATED FUND BALANCE OF THE
GENERAL FUND.
ADMINISTRATION RECOMMENDATION:
Adopt the Resolution.
ANAL YSIS:
On June 5, 1996, the City Commission adopted Resolution No. 96-22014 which appropriated $10
million into a reserve for contingencies in the General Fund. This resolution called for this reserve
to remain at 11 % of the General Fund Budget for the current fiscal year. The current reserve for
contingencies is $12,234,000. As the City's General Fund Budget totals $119,619,900 for the
1999/00 fiscal year, the 11 % reserve should now be $13,159,000. The additional appropriation of
$925,000 in this resolution will bring the reserve to the required amount 0[$13,159,000.
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.
LA~Zf6
AGENDA ITEM
R1G
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DATE