R-1078-04 , t }
RESOLUTION No: 1078-04
A RESOLUTION OF THE VILLAGE COUNCIL OF MIAMI SHORES, VILLAGE,
FLORIDA, APPROVING BUDGET AMENDMENT #2 TO THE FY 2003-2004 OPERATING
BUDGETS TOTALLING $256,186, INCREASING RECURRING REVENUE
APPROPRIATIONS BY$85,417,INCREASING INTERFUND TRANSFERS BY$39,500 AND
INCREASING THE CONTRIBUTION FROM THE UNRESERVED GENERAL FUND
BALANCE BY $60,269 TO FUND INCREASES IN THE BUDGET OF THE VILLAGE
ATTORNEY AND NON-DEPARTMENTAL ACCOUNTS; INCREASE RECURRING
REVENUE ACCOUNTS IN THE EXCISE TAX FUND BY $39,500 WITH A
CORRESPONDING INCREASE IN TRANSFERS-OUT TO THE GENERAL FUND
RELATING TO UNANTICIPATED LEGAL SERVICES AND EMPLOYEE RETIREMENT
SETTLEMENTS AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the Village complied with statutory provisions, adopting its operating budget for the fiscal year
which began on October 1,2003;and,
WHEREAS, occasionally adjustments are required and made by the Administration to better manage the
Village's assets and cash;and,
WHEREAS, a review of the Village's accounts as of May 31, 2004 identified two areas which have, or are
anticipated to have,budgetary deficits by fiscal year end;and,
WHEREAS,the Auditor General's office rejects budgetary deficits in municipal operating budgets,potentially
jeopardizing or delaying the flow of funds from outside governmental sources.
NOW,THEREFORE,BE IT DULY RESOLVED BY THE VILLAGE COUNCIL OF MIAMI SHORES
VILLAGE,FLORIDA:
1. That Budget Amendment#2 to the FY 2003-2004 Operating Budgets, in the form attached hereto
and made a part hereof, increasing revenue and expenditure appropriations in the General Fund of
$216,686; and into the Excise Tax Fund, increases in revenue and Interfimd transfer accounts by
$39,500 is hereby approved.
2. That this resolution is presented in a balance format, where revenues equal expenditures, including an
additional$60,269 contribution from the Village's Unreserved General Fund Balance.
3. That additional revenues are anticipated to meet the expenditures identified in Amendment#2.
4. That this resolution shall becomes effective immediately upon adoption.
PASSED and ADOPTED this 6'h day of July,2004.
Jim McCJv,Mayor
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Attest: Approved as to Form:
rc-
Barbara A.Estep,CMC Richard Sarafan, sq.
Village Clerk Village Attorne
Miami Shores Village
Amended FY 2003-04 Operating Budgets
Summary of Amendments by Fund
FY'04 Adopted FY'04 Amended
Fund Budgets Amendment#1 Amendment#2 Budgets
General Fund $ 10,335,656 $ 84,703 ; $ 216,686 $ 10,637,045
Excise Taxes 1,772,388 - ; 39,500 1,811,888
Local Option Gas Tax 252,585 - I - 252,585
Transport Surtax 334,278 - ; - 334,278
Grants - 17,814 ; - 17,814
Debt service 245,953 - - 245,953
Capital Projects 823,769 122,186 - 945,955
GO Bond-Aquatics 184,530 40,470 ; - 225,000
Storm Water 431,398 63,233 ; - 494,631
Sanitation 1,782,799 127,651 I - 1,910,450
Risk Management 789,243 789,243
Fleet Maintenance 577,809 - ; - 577,809
TOTAL $ 17,530,408 1 $ 456,0571 $ 256,1861 $ 18,242,651
FY'04 Operating Budget Worksheets Amendment#2 Prepared by FIN on 6/29/2004 at4:43 PM