HomeMy WebLinkAboutDocumentation_Regular_Tab 16_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 #: 5-12
Originating Department: Finance
AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Amending and increasing the 2011/2012 General Fund budget $105,590 to fund additional personnel
expenditures.
BUDGET / FINANCIAL IMPACT:
Account #: Amount of this item: $105,590.00
001-175-515.175
001-175-522.102
001-175-523.101
Current Budgeted Amount Available: Amount Remaining after item:
($66,182.00) $39,408.00
Budget Transfer Required: No Appropriate Fund Balance: Yes
EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Amending and increasing the 2011/2012 General Fund budget $105,590 to fund additional personnel
expenditures.
APPROVALS: SIGNATURE:
Department Head
Finance Director � �'
Reviewed for Financial Sufficiency [� ;�� i�!����
No Financial Impact ❑
Attorney: (for legal sufficiency) .
Village Manager: � , ------ -
Submit for Council Discussion:
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. 5-12
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF
TEQUESTA, FLORIDA, APPROPRIATING FUND BALANCE AND
INCREASING THE GENERAL FUND #001 2011-2012 BUDGET IN THE
AMOUNT OF $105,590 TO FUND ADDITIONAL PERSONNEL
EXPENDITURES IN THE ACCOUNTS AND AMOUNTS NOTED BELOW
AND AUTHORIZING THE VILLAGE MANAGER TO PROCEED ON
BEHALF OF THE VILLAGE, PROVIDING FOR SEVERABILITY;
PROVIDING AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS, an additional $105,590 needs to be appropriated in the General
Fund #001, as follows;
Dept. 175 - Police
515.175 P/T Salaries - Operations $ 63,340
522.102 VOT Pension Contributions $ 21,740
523.101 Life/Health Insurance $ 20,510
Total $ 105,590
WHEREAS, this additional need is was not anticipated in the original FY 2012
Budget;
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE
VILLAGE OF TEQUESTA, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1 Resolution No. 15-12 is hereby appropriating Fund Balance and
increasing the General Fund #001 2011-2012 Budget in the amount of $105,590
to fund additional personnel expenditures in the accounts and amounts noted
above;
Section 2 this Resolution shall become effective immediately upon passage.
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Memo
To: JoAnn Forsythe, Finance Director
From: Michelle Gload, Senior Accountant
CC:
Date: 8/31/12
Re: Police Personnel Expenditures
As you requested, I reviewed the personnel expenditures in the Police Department and below you will
find the amount of additional funding that I am estimating they need to get through the end of fiscal year
2012.
Dept. 175 - Police
515.175 P/T Salaries - Operations $ 63,340
522.102 VOT Pension Contributions $ 21,740
523.101 Life/Health Insurance $ 20,510
Total $ 105,590
515.175 PIT Salaries — Operations
Based on the part time salaries paid to date, I am estimating a$63,340.00 shorifall in this
account.
522.102 VOT Pension Contributions
The FY2012 budget for this account was calculated using a required employer contribution rate
of 17.45% however, according to the October 1, 2011 Actuarial Valuation Report the required
empVoyer contribution rate needed to be 19.97%. Based on the increase in rate I am estimating
a$21,740.00 shortfall in this account.
523.101 Life/Health Insurance
The FY2012 budget for this account included a monthly insurance surcharge
($50 employee/$100 employee+) for each police officer however; pursuant to the agreement
befinreen The �Ilage and the PBA the officers were not required to pay this surcharge. This has
created a$20,510.00 shortfall in this account.
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