R-1087-04 RESOLUTION No. 1087-04
A RESOLUTION OF THE VILLAGE COUNCIL OF MIAMI SHORES,VILLAGE,FLORIDA,CREATING
BUDGET AMENDMENT #1 TO THE FY 2004-05 OPERATING BUDGETS TOTALLING26$ 7,850,
REAPPROPRIATING11$ 9,831 FROM THE GENERAL RESERVED FUND BALANCE; $56,760 THE
SPECIAL REVENUE (GRANTS) RESERVED FUND BALANCE; 6$ 4,188 FROM CAPITAL PROJECTS
RESERVED FUND BALANCE; $1,853 FROM INTERNAL SERVICE FUND BALANCES; AND, 2$ 5,218
FROM THE ENTERPRISE FUND RESERVED RETAINED EARNINGS ACCOUNTS TO FUND
OUTSTANDING FINANCIAL OBLIGATIONS INCURRED PRIOR TO SEPTEMBER 30, 2004; AND,
APPROPRIATING2$ 3,863 FROM GENERAL FUND UNRESERVED FUND BALANCE FOR
UNANTICIPATED RETIREMENT CONTRIBUTIONS.
WHEREAS,the Village has adopted an annual operating budget for all finds and departments for the fiscal
year which began on October 1,2004;and,
WHEREAS,generally accepted accounting principles require that all financial obligations incurred in a prior
fiscal year be reported as a fund reserve in the Village's Reserved Equity Accounts;and,
WHEREAS, re-appropriation of those fund balances and associated items are required to avoid
misrepresentations of the current year's operating accounts during FY 2004-05.
WHEREAS,the employers'contribution to the Police Retirement System is actuarially determined;and,
WHEREAS,the actuarially-calculated contribution requirement for FY 2005 is$218,863 or$23,863 more than
the original budget of$195,000 included in the Adopted FY2004-05 Budget,requiring the additional funds.
NOW,THEREFORE,BE IT DULY RESOLVED BY THE VILLAGE COUNCIL OF MIAMI SHORES
VILLAGE,FLORIDA:
1. That this resolution creates Budget Amendment#1 to the FY 2004-05 Operating Budgets, re-
appropriating $119,831, $56,760, $1,853, $64,188 and$25,218 from the Reserved General Fund
Balance,Reserved Special Revenue Fund Balance Accounts,Reserved Capital Projects Fund Balance;
Reserved Internal Service Fund Balance, and Enterprise Reserved Retained Earnings Accounts
respectively as identified in the Budget Amendment#1 Summary attached hereto for reference.
2. That this resolution also appropriates $23,863 from the General Fund Unreserved Fund Balance
account to fund the additional Police Pension Fund mandatory actuarial contribution for the fiscal year.
3. That this resolution shall be retroactively implemented to October 1,2004 upon its adoption.
PASSED and ADOPTED this 166'day of November 2004.
JIM M COY,MAYOR
Attest: Approved as16'Form:
cmc
Barbara A.Estep,C C Richard Sarafan,Esq.
Village Clerk Village Attorney
Miami Shores Village
FY 2004-05
Summary: Budget Amendment Schedule by Fund
ADOPTED BUDGET Budget Amendment#1/#1 a AMENDED BUDGET
Total Total Total
Fund Total Revenues: Expenditures Total Revenues; Expenditures Total Revenues: Expenditures
General Fund $ 10,806,740 ; $ 10,806,740 $ 143,694 ; $ 143,694 $ 10,950,434 ; $ 10,950,434
Excise Taxes 1,827,967 ; 1,827,968 - - 1,827,967 : 1,827,968
Local Option Gas Tax 381,002 ; 381,002 1,079 ; 1,079 382,081 382,081
Transport Surtax 296,498 ; 296,498 27,641 27,641 324,139 ; 324,139
Grants - - 4,683 4,683 4,683 4,683
Hurricane/Disaster - - 23,357 ; 23,357 23,357 c 23,357
Debt service 673,293 ; 673,293 - - 673,293 ; 673,293
2nd Ave Rehab - - - - - -
Capital Projects 1,066,559 ; 1,066,559 64,188 ; 64,188 1,130,747 ; 1,130,747
GO Bond-Aquatics 5,343,194 ; 5,343,194 - - 5,343,194 ; 5,343,194
GO Bond-Cht School 113,130 ; 113,130 - - 113,130 ; 113,130
Storm Water 474,868 474,868 24,026 - 24,026 498,894 ; 498,894
Sanitation 2,617,035 ; 2,617,035 1,192 ; 1,192 2,618,227 ; 2,618,227
Risk Management 995,066 995,066 - - 995,066 995,066
Fleet Maintenance 722,820 ; 722,819 1,853 ; 1,853 724,673 ; 724,672
TOTAL $ 25,318,172 ; $ 25,318,172 $ 291,713 ; $ 291,713 $ 25,609,885 ; $ 25,609,885
Source:FY 2005 Adopted Budget Page#1 of Prepared by FIN on 11/10/2004 atl2 23 PN.