HomeMy WebLinkAboutDocumentation_Regular_Tab 7a_11/04/2010 r '`''�� VILLAGE OF TEQUESTA
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1. VILLAGE COUNCIL MEETING:
Meeting Date: Meeting Type: Regular Ordinance #:
November 4, 2010
Consent Agenda: Yes Resolution 40-10
Originating Department: Finance
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Amend and increase the 2009-2010 General Fund #001 Budget by increasing revenues and
expenditures related to insurance premiums taxes
3. BUDGET / FINANCIAL IMPACT:
Account #: tns. Premium Tax Accounts Amount of this item: $209,245
(Fire � Police) and Other Pension
Contributions (Fire & Police)
Budget Transfer Required: Yes Appropriate Fund Balance: No
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Amend and increase the 2009-2010 General Fund #001 Budget by $209,245
5. APPROVALS: FINANCE:
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Approved for sufficiency: ��-°�
Dept. Head: JoAnn Forsvthe No Financial Impact :
Attomey: (for legal sufficiency) Yes ❑ No ❑
Village Manager:
• SUBMIT FOR COUNCIL DISCUSSION: ❑
• APPROVE ITEM: ❑
• DENY ITEM: �
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FINANCF DEPARTMENT
DATE: NOVEMBER 3, 2010
TO: MICHAEL COUZZO, VILLAGE MANAGER
CC: LORI MCWILLIAMS, VILLAGE CLERK
FROM: JOANN FORSYTHE, FINANCE DIRECTOR
RE: RESOLUTION 40-10 INCREASING THE GENERAI. FUND BUDGET BY
INCREASING REVENUES AND EXPENDITURES $209,245 RELATED TO
INSURANCE PREMIUMS TAXES
This resolution increases revenues and expenditures related to the receipt of insurance premium t�es of
$209,245. The check for the final receipt of taxes was dated September 30, 2010 and received by the Village
October 5, 2010.
11/3/104:08 PM
RESOLUTION NO 40-10
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, AMENDING AND INCREASING THE 2009-2010
GENERAL FUND #001 BUDGET $209,245 BY INCREASING
REVENUES AND EXPENDITURES IN THE ACCOUNTS LISTED
BE�OW AND AUTHORIZING THE VILLAGE MANAGER TO PROCEED
ON BEHALF OF THE VILLAGE AND PRUVIDING FOR AN EFFECTIVE
DATE AND FOR OTHER PURPOSES
REVENUES:
INSURANCE PREMIUM TAX-FIRE $149,253
INSURANCE PREMIUM TAX- POLICE $59,992
EXPENDITURES:
OTHER PENSION CONTRIBUTIONS-FIRE $149,253
OTHER PENSION CONTRIBUTIONS-POLICE $59,992
WHEREAS, the Village of Tequesta received unbudgeted revenues from
insurance premium taxes in fiscal year ending 9/30/2010;
WHEREAS, the funds must be used in accordance with Florida Statutes, related
to funding of police and firefighter pensions and deposited into the applicable pension
trusts;
WHEREAS, expenditures related to insurance premium taxes flow through the
General Fund #001 into the Pension Trusts in the form of additional pension
contributions;
WHEREAS, this will not require appropriating Fund Balance.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS
Section 1 Resolution No. 40-10 is hereby approved amending and increasing
the 2009-2010 General Fund #001 budget $209,245.
Section 1 This Resolution shall become effective immediately upon passage.
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