Agenda Item 7C AGENDA ITEM#7C
NOVEMBER 26,2012
ORDINANCE NO. 20-12-118
AN ORDINANCE AMENDING THE OPERATING BUDGET FOR THE
CITY OF ATLANTIC BEACH, FLORIDA FOR FISCAL YEAR
BEGINNING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012,
AND PROVIDING AN EFFECTIVE DATE.
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
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 is amending the previous year's Operating Budget to reflect the
final results of operations for the fiscal year ended September 30, 2012, and
WHEREAS, cities are allowed to take up to 60 days from year end to adjust their
budgets for items that are related to the previous year's budget. This adjustment only addresses
one item in the General Fund. The legal budget was exceeded due to attorney's fees associated
with unanticipated union negotiations towards the end of the year.
The Police and General Pension Trust Funds are also amended to fund the benefits paid
that exceeded the estimates for the year. These costs are more than off-set by additional
revenues and were associated with more than anticipated employees deciding to retire or drop.
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 2011/2012 Budget to be amended as follows:
GENERAL FUND
Expenses:
Governing Body
Legal Counsel
Contract Services $13,451
City Administration
City Manager
Salary <13,451>
Fund Balance $0
POLICE PENSION TRUST FUND
Revenues:
Investment Earnings $236,000
AGENDA ITEM#7C
NOVEMBER 26,2012
Expenses:
Benefits Paid 82,000
Fund Balance $154,000
GENERAL PENSION TRUST FUND
Revenues:
Investment Earnings $700,000
Expenses:
Benefits Paid 18,500
Fund Balance _ $681,500
2. This ordinance shall take effect immediately upon its adoption.
Passed by the City Commission on first reading this 13th day of November 2012.
Passed by the City Commission on second and final reading this day of November 2012.
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.2042-118 Page 2 of 2