HomeMy WebLinkAboutDocumentation_Regular_Tab 15_09/13/2012 VILLAGE CLERK'S OFFICE
AGENDA ITEM TRANSMITTAL FORM
Meeting Date: Meeting Type: Regular Ordinance #: N/A
09/ 13/ 12
Consent Agenda: No Resolution #: 20-12
Originating Department: Finance
AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Amending and increasing the 2011/2012 General Fund budget $74,175, realigning revenues and expenditures
to equal the amount of insurance premium tax proceeds the Village expects to receive in FY2012.
BUDGET / FINANCIAL IMPACT:
Account #: Amount of this item: $74,175.00
001-175-522.110
001-192-522.110
001-171-312.520
001-192-312.510
Current Budgeted Amount Available: Amount Remaining after item:
$137,000.00 $211,175.00
Budget Transfer Required: Yes Appropriate Fund Balance: No
EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Amending and increasing the 2011/2012 General Fund budget $74,175, realigning revenues and expenditures
to equal the amount of insurance premium tax proceeds the Village expects to receive in FY2012.
APPROVALS: SIG - TURE:
Department Head � r 1 �
Finance Director ,� � ,
Reviewed for Financial Sufficiency 0�� 1r
-- '�! �
No Financial Impact ❑ - �
Attorney: (for legal sufficiency)
Village Manager: /
Submit for Council Discussion: 0
Approve Item: ❑
Deny Item: �
SPECIAL INSTRUCTIONS FOR CLERK: (if you wish to have agreements signed, be sure to include the
number of copies you want signed and place "Sign Here" sticker on them)
Form Amended: 10/20/11
RESOLUTION NO. 20-12
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, AMENDING AND INCREASING THE 2011/2012
GENERAL FUND #001 BUDGET $74,175.00 BY INCREASING
REVENUES AND EXPENDITURES IN THE ACCOUNTS LISTED
BELOW AND AUTHORIZING THE VILLAGE MANAGER TO PROCEED
ON BEHALF OF THE VILLAGE PROVIDING FOR SEVERABILITY;
PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
REVENUES:
INSURANCE PREMIUM TAX — FIRE $17,708.00
INSURANCE PREMIUM TAX — POLICE $56,467.00
$74,175.00
EXPENDITURES:
OTHER PENSION CONTRIBUTIONS — FIRE $17,708.00
OTHER PENSION CONTRIBUTIONS — POLICE $56,467.00
$74,175.00
WHEREAS, according to the Division of Retirement the Village will receive
revenues from insurance premium tax proceeds in the amount of $211,175.00
and will expend these funds for pension contributions;
WHEREAS, the Village Council budgeted revenues and expenditures resulting
from the receipt of insurance premium taxes in the amount of $137,000.00;
WHEREAS, the funds must be used in accordance with Florida Statutes,
Sections 175 and 185 related to the funding of police and firefighter pensions;
WHEREAS, the funds are required to flow-through the General Fund #001;
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. --- amending and increasing the 2011/2012 General
Fund #001 budget $74,175.00 by increasing revenues and expenditures in the
accounts listed above and authorizing the Village Manager to proceed on behalf
of the Village providing for severability; providing and effective date; and for other
purposes is hereby approved,
Section 2 This Resolution shall become effective immediately upon passage.
FISCAL YEAR zo�2 Villaqe of Tequesta
sa # Budqet Amendment Request �E #
Department: Police Account: Other Pension Contributions Account #: 001-175-522.110
Original Budget Balance Available Transfer Amount New Balance Availabte
$ 0.00 $ 0.00 $ 56,467.00 $ 56,467.00
Justification / Comments: Amending and increasing the FY2011/2012 General Fund budget $74,175 by increasing revenues
and expenditures to equal the amount of insurance premium tax proceeds that the Village will receive for FY2012 according to the DOR.
Department: Fire Account: Other Pension Contributions Account #: 001-192-522.110
Original Budget Balance Available Transfer Amount New Balance Available
$ 137,000.00 $ 137,000.00 $ 17,708.00 $ 154,708.00
Justification / Comments: Amending and increasing the FY2011/2012 General Fund budget $74,175 by increasing revenues
and expenditures to equal the amount of insurance premium tax proceeds that the Village will receive for FY2012 according to the DOR.
Department: Account: Account #:
Original Budget Balance Available Transfer Amount New Balance Available
$ 0.00 $ 0.00 $ 0.00 $ 0.00
Justification / Comments:
Department: Account: Account #:
Original Budget Balance Available Transfer Amount New Balance Available
$ 0.00 $ 0.00 $ 0.00 $ 0.00
Justification / Comments:
Department: Police Account: Casualty Ins Premium Tax Account #: 001-171-312.520
Original Budget Balance Available Transfer Amount New Balance Available
$ 0.00 $ 0.00 $ 56,467.p0 $ 56,467.00
Justification / Comments• Amending and increasing the FY2011/2012 General Fund budget $74 175 by increasing revenues
and expenditures to equal the amount of insurance premium tax proceeds that the Village will receive for FY2012 accordmg to the DOR,
Department: Fire Account: Fire Ins Premium Tax Account #: 001-192-312.510
Original Budget Balance Available
$ 137,000.00 $ 137,000.00 $ 17,708.00 $ 154,708.00
Justification / Comments• Amending and increasing the FY2011/2012 General Fund budget $74,175 by increasing revenues
and expenditures to equal the amount of insurance premium tax proceeds that the Village will receive for FY2012 according to the DOR.
Department: Account: Account #:
Original Budget Balance Available Transfer Amount New Balance Available
$ 0.00 $ 0.00 $ 0.00 $ 0.00
Justification / Comments:
Department: Account: Account #:
Original Budget Balance Available Transfer Amount New Balance Available
$ 0.00 $ 0.00 $ 0.00 $ 0.00
Justification / Comments:
Department Head: Date:
Budget Officer: Date:
Village Manager Approval: Date:
Village Council Approval: Resolution Number Date: