HomeMy WebLinkAboutResolution_31-04/05_01/13/2005• RESOLUTION NO. 31-04/05
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, NCREASING
THE VILLAGE'S CONTRIBUTION TO THE VILLAGE
EMPLOYEE -FIRE PENSION FUND #601 TO 9.94% OF PAYROLL,
THE VILLAGE EMPLOYEE -GENERAL PENSION FUND #602 TO
8.73% OF PAYROLL AND THE VILLAGE EMPLOYEE -POLICE
OFFICERS PENSION FUND #603 TO 7.55% OF PAYROLL AND
APPROPRIATING AND BUDGETING FUND BALANCE FROM
THE FOLLOWING FUNDS TO BE BUDGETED TO PAY FOR THE
INCREASE IN REQUIRED PENSION FUND CONTRIBUTIONS.
• GENERAL FUND #001 $36,614
• WATER UTILITY #401 $ 2,170
• STORMWATER #403 $ 160
WHEREAS, Gabriel, Roeder, Smith & Company, actuaries
for the Village of Tequesta's General, Police and
Fire pension funds, performed actuarial valuations
and/or cost determinations and determined the
Village's required contributions for the Village's
pension funds, and,
• WHEREAS, the Village of Tequesta budgeted pension
contributions for the 2004-2005 Budget year were
less then the contributions scheduled in the
actuarial report, and
•
WHEREAS, an additional $36,316 needs to be
appropriated into General Fund #001, an additional
$2,170 needs to be appropriated into the Water
Utility Fund #401 and an additional $160 need to be
appropriated into the Stormwater Fund #403 in order
to be able to fund the Village's pension funds and
pay the required employer contribution as
calculated by the Village's actuaries,
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE
COUNCIL OF THE VILLAGE OF TEQUESTA, PALM BEACH
COUNTY, FLORIDA, AS FOLLOWS:
Section 1. The Village Council of the Village of
Tequesta, Palm Beach County, Florida, authorizes
the Village Manager to increase the Village's
contribution to the Village Employee - Fire Pension
Fund #601 to 9.94% of payroll, the Village Employee
- General Pension Fund #602 to 8.73% of payroll
and the Village Employee - Police Officers Pension
Fund #603 to 7.55% of payroll and appropriating
fund balance from the following funds and budgeting
these funds into budget year 2004-2005 to be to pay
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for the increase in required pension fund
contributions.
• General fund #001 $36,614
• Water Utility #401 $ 2,170
• Stormwater #403 $ 160
THE FOREGOING RESOLUTION WAS OFFERED by Councilmember
Humpage, who moved its adoption. The motion was seconded by Vice
Mayor Genco, and upon being put to a vote, the vote was as follows:
FOR ADOPTION
AGAINST ADOPTION
Pat Watkins
Geraldine A. Genco
Edward D. Resnik
Russell J. von Frank
Jim Humpage
The Mayor thereupon declared the Resolution duly passed and adopted this
13th day of January, A.D, 2005.
MAYOR OF TEQUESTA
Pat Watkins, Mayor
ATTEST:
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Gwen Carlisle
Village Clerk
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