Ordinance No. 20-15-135 v ORDINANCE NO. 20-15-135
AN ORDINANCE AMENDING THE OPERATING BUDGET
FOR THE CITY OF ATLANTIC BEACH, FLORIDA FOR
FISCAL YEAR BEGINNING OCTOBER 1, 2014 AND
ENDING SEPTEMBER 30, 2015 FOR AMENDING THE
GENERAL EMPLOYEE PENSION BUDGET TO PROVIDE
FOR INCREASED RETIREMENT DISTRIBUTIONS, 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 operating budget to add net funds totaling
$199,756 for the increase in the General Employee Pension Fund— Service Pay- Retiree.
WHEREAS, additional payouts were required in Fiscal Year 2015 as more employees
retired than were initially anticipated, therefore this line item must be amended in order to have
sufficient funds appropriated within the City's Budget.
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 2014/2015 Budget to be amended as follows:
GENERAL EMPLOYEE PENSION FUND
Expenses:
General Employee Pension Fund
Service Pay—Retiree $199,756
Total Expenses: $199,756
Fund Balance <$199,756>
2. This ordinance shall take effect immediately upon its adoption.
Mitchell Reeves
Mayor/Presiding Officer
Appro . o for � a i i rectness: ATTE T:
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RICHARD KOMANDO, ESQUIRE DONNA L. BARTLE, CMC
City Attorney City Clerk