R-1108-05 ® RESOLUTION 1108-05
A RESOLUTION OF THE VILLAGE COUNCIL OF MIAMI SHORES,VILLAGE,FLORIDA,CREATING
BUDGET AMENDMENT #1 TO THE FY 2005-06 OPERATING BUDGETS TOTALLING $3,326,023,
REAPPROPRIATING$112,984 FROM THE GENERAL RESERVED FUND BALANCE;$24,245 FROM THE
SPECIAL REVENUE (GRANTS) RESERVED FUND BALANCE; $205,223 FROM HURRICANE-
EMERGENCY FUND RESERVED FUND BALANCE; $27,443 FROM INTERNAL SERVICE FUND
BALANCES; AND, $51,126 FROM THE ENTERPRISE FUND RESERVED RETAINED EARNINGS
ACCOUNTS TO FUND OUTSTANDING FINANCIAL OBLIGATIONS INCURRED PRIOR TO SEPTEMBER
30, 2005; AND, APPROPRIATING $2,905,000 TO THE HURRICANE FUND FOR WILMA-RELATED
EXPENSES, FUNDED FROM ANTICIPATED FEMA REIMBURSEMENTS, STATE HIGHWAY FUND
OFFSETS AND TRANSFERS-IN FROM THE GENERAL FUND OF $2,178,750, $363,125, AND $363,125
FROM FEMA,FWHA AND THE GENERAL FUND RESPECTIVELY.
WHEREAS,the Village has adopted an annual operating budget for all funds and departments for the fiscal
year which began on October 1,2005;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 accurately represent
the current year's operating accounts during FY 2005-06.
WHEREAS,the Village has estimated that the costs related to Hurricane Wilma will be$2,905,000;and,
WHEREAS,an appropriation estimating the total clean up costs is required for reimbursement eligibility.
NOW,THEREFORE,BE IT DULY RESOLVED BY THE VILLAGE COUNCIL OF NIIANII SHORES
VILLAGE,FLORIDA:
1. That this resolution creates and approves Budget Amendment#1 to the FY 2005-06 Operating
Budgets,re-appropriating a total of$421,021 comprised of$112,984;$24,245;$205,223;$27,443
and $51,126 from the General, Special Revenue, Hurricane Emergency, Internal Service and
Enterprise Reserved Fund Balance or Retained Earnings accounts.
2. That this resolution also appropriates$2,905,000 for Hurricane Wilma costs to be funded from FEMA
reimbursements at 75%($2,178,750);the State Highway and Village's General Fund for$363,125
each respectively.
3. That this resolution shall be retroactively implemented to October 1,2005 upon its adoption.
PASSED and ADOPTED this 6t'day of December,2005.
AL DAVIS,Mayor
Attest: Approved as to Form:
Barbara A.Estep,CMC Richard Sarafan,Esq.
Village Clerk Village Attorney
Miami Sho' Village
FY 20L,--06
Summary: Budget Amendment Schedule by Fund
ADOPTED BUDGET Budget Amendment#1 AMENDED BUDGET
Total Total Total
Fund Total Revenues Expenditures Total Revenues Expenditures Total Revenues Expenditures
General Fund $ 11,622,306 $ 11,622,306 $ 112,986 $ 112,984 $ 11,735,292 $ 11,735,290
Excise Taxes 1,820,386 1,820,386 - - 1,820,386 1,820,386
Local Option Gas Tax 317,910 317,910 6,000 6,000 323,910 323,910
Transport Surtax 346,214 346,214 18,245 18,245 364,459 364,459
Grants - - - - - -
Hurricane/Disaster - - 3,110,223 3,110,223 3,110,223 3,110,223
Debt service 635,246 635,246 - - 635,246 635,246
2nd Ave Rehab - - -
Capital Projects - - - - -
GO Bond-Aquatics - - - - - -
GO Bond-Cht School - - -
Storm Water 458,898 458,898 45,326 45,326 504,224 504,224
Sanitation 2,587,710 2,587,710 5,800 5,800 2,593,510 2,593,510
Risk Management 788,504 788,504 - - 788,504 788,504
Fleet Maintenance 975,516 975,516 1 27,444 27,444 1,002,960 1,002,960
TOTAL 1 $ 19,552,690 $ 19,552,690 1 $ 3,326,023 $ 3,326,023 $ 22,878,714 $ 22,878,712
Source:FY 2006 Adopted Budget Page#1 of 1 Prepared by FIN on 11/29/2005 at3:07 PM