Agenda Item 7A AGENDA ITEM # 7A
NOVEMBER 28, 2011
ORDINANCE NO. 20 -11 -112
AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE
CITY OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR
BEGINNING OCTOBER 1, 2010 AND ENDING SEPTEMBER 30, 2011.
WHEREAS, the City Charter of the City of Atlantic Beach requires that the City
Commission approve all budgetary increases and transfers at the fund level and at the department
level for transfers within the General Fund, and
WHEREAS, the nature of budgetary systems and those day -to -day decisions affecting such
budgetary systems require adjustments from time -to -time, and
WHEREAS, the City has up to sixty days following the end of the fiscal year to adjust the
budget to remain in budgetary compliance, and
WHEREAS, it has been the City's standard procedure to accumulate small budgetary items
until such time to make a multi - purpose adjustment, rather than to do numerous single item budget
adjustments.
This adjust will fund the excess legal fees resulting from paying insurance deductibles on
three suits against the City including the Estates of Atlantic Beach suit and two police related
matters.
This adjustment also addresses the insufficient funds in the pension plans for extra actuary
work, investment fees and additional retiree benefit payments including DROP payouts that were
under budgeted.
NOW, THEREFORE, BE IT ENACTED BY THE CITY COMMISSION ON
BEHALF OF THE PEOPLE OF THE CITY OF ATLANTIC BEACH, FLORIDA, that;
1. The Fiscal Year 2010/2011 Budget be amended as follows:
GENERAL FUND
Expenses:
City Attorney
Professional Services $22,000
General Government
Repair and Maintenance <10,000>
Police Department
Patrol Salary and Benefits <12,000>
Total Expenses: $0
Fund Balance: $0
AGENDA ITEM # 7A
NOVEMBER 28, 2011
GENERAL EMPLOYEE PENSION TRUST FUND
Expenses:
Administrative Expenses $44,500
Retirement Benefits 101,000
Total Expenses: $145,500
Fund Balance: $ <145,500>
POLICE EMPLOYEE PENSION TRUST FUND
Expenses:
Administrative Expenses $16,000
Retirement Benefits 31,000
Total Expenses: 47,000
Fund Balance: $ <47,000>
2. This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this 14th day of November, 2011.
Passed by the City Commission on second and final reading this day of November, 2011.
Mike Borno
Mayor / Presiding Officer
Approved as to form and correctness: ATTEST:
Alan C. Jensen, Esquire Donna L. Bartle, CMC
City Attorney City Clerk
Ordinance No. 20 -11 -112 Page 2 of 2