R-1154-08 RESOLUTION NO. 1154-08
A RESOLUTION OF THE MIAMI SHORES VILLAGE COUNCIL,CREATING
BUDGET AMENDMENT#3 TO THE FY 2007-08 OPERATING BUDGETS,
INCREASING REVENUES AND EFFECTUATING FUND TRANSFERS TO
REVERSE THE YEAR END BUDGETARY DEFICIT.
WHEREAS,the Village had adopted an annual operating budget for all funds and
departments for the fiscal year which began on October 1,2007 and ended on September 30,
2008; and,
WHEREAS,Florida State Statutes prohibit departmental budgets to close with a deficit;
and,
WHEREAS,in order to adequately fund the deficits realized during the prior fiscal year,
corresponding revenues shall be increased and fund transfers shall be reapportioned; and,
WHEREAS,the referenced revenue increases and fund transfers are set forth on the
attached schedules;
NOW,THEREFORE,BE IT RESOLVED by the Miami Shores Village Council:
Section 1. That this resolution and schedules attached hereto, creates and approves
Budget Amendment#3 to the Fiscal Year 2007-08 Operating Budgets.
Section 2. That adoption of this resolution shall effectuate the specified transfers to
reverse the year end budgetary deficit.
Section 3. That this resolution shall become effective immediately upon its
adoption by the Village Council.
PASSED AND ADOPTED this 2 d day of December,2008.
Attest:
Al'v'�7 L�' MC Herta Holly,Mayor
Barbara A.Estep,MM
Village Clerk
Approved as to Form:
Richard Sarafan
Village Attorney
Budget Am^"ment#3
FY 21 18
Account# Description Budget Bud Amd 3 Revised Budget
001-0000-384-00000 Debt Proceeds: Capital Lease - 505,000 ; 505,000
001-0800-519-91550 Interfund Transfer Out: Fleet Maint. 80,000 505,000 585,000
001-0800-519-93000 Non-Dept: Contingency - - -
Sub-total: General Fund(001) $ 80,000 $ - : $ 80,000
501-0000-361-40200 Insurance Proceeds: Repair& Replace - 20,554 20,554
501-6500-519-91550 Interfund Transfer Out: Fleet Maint. - 20,554 : 20,554
Sub-total: Risk Mgmt-Fund(501) $ - $ - ; $ -
550-0000-381-00000 Interfund Transfer In:General Fund - 505,000 ; 505,000
550-0000-381-50000 Interfund Transfer In: Risk Management - 20,554 : 20,554
550-6000-541-65000 FLMtce:Vehicles - 525,554 : 525,554
Sub-total: Fleet Mtce ISFund(550) $ - -
Sub-total: BudAmendment#3 $ 80,000 $ - $ 80,000
a
FY08 Budget Amendment#3 Page 1 of 2
Miami Sh illage
FY 2007-08
Summary: Budget Amendment Schedule by Fund
ADOPTED BUDGET Budget Amendment#1 & #2 Budget Amendment#3 AMENDED BUDGET
Total Total Total Total
Fund Total Revenues; Expenditures Total Revenues: Expenditures Total Revenues! Expenditures Total Revenues; Expenditures
General Fund $ 12,433,023 $ 12,433,023 $ 146,059 : $ 146,059 $ 505,000 1 $ 505,000 $ 13,084,082 $ 13,084,082
Excise Taxes 2,270,611 i 2,270,611 - - - 2,270,611 : 2,270,611
Local Option Gas Tax 374,896 : 374,896 - - 374,896 374,896
Transport Surtax 459,897: 459,897 - - - - 459,897 1 459,897
Debt service 1,041,839 1,041,839 55,000 55,000 - - 1,096,839 1,096,839
Capital Projects - - 72,653 72,653 - - 72,653 72,653
Storm Water 228,336 : 228,336 - - - - 228,336 i 228,336
Sanitation 2,738,111 : 2,738,111 10,000 10,000 - - 2,748,111 : 2,748,111
Risk Management 1,151,493: 1,151,493 28,075 1 28,075 20,554 1 20,554 1,200,122 1 1,200,122
Fleet Maintenance 1,050,703 1,050,703 80,000€ 80,000 525,554 1 525,554 1,656,257: 1,656,257
TOTAL $ 21,748,909 ' $ 21,748,909 $ 391,787 $ 391,787 $ 1,051,108 $ 1,051,108r$ 23,191,804 $ 23,191,804
FY08 Budget Amendment#3 Page 1 0f 1