HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
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R�49� File ID: #12357
Date: 07/25/2022 Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Commission Meeting Date: 09/10/2022 Sponsored By:
District Impacted: All
Type: Resolution
Subject: Approve Annual Budget FY '23 - GESE Retirement Trust Fund
Purpose of Item:
To approve the budget for the City of Miami General Employees' & Sanitation
Employees' Retirement Trust Fund for Fiscal Year 2022/2023, in the amount not to
exceed $3,053,661, as actuarially determined, to provide for the administration of the
GESE Retirement Trust Fund.
Background Information:
Ordinance No. 10002, adopted on June 13, 1985, as amended by Gates, authorized the
Board of Trustees to administer the City of Miami General Employees' & Sanitation
Employees' Retirement Trust (GESE Retirement Trust Fund"); and as such, a budget is
required to properly administer the GESE Retirement Trust Fund, and at the March 18,
2022, Board Meeting, The Board of Trustees approved this budget.
Budget Impact Analysis
Item is an Expenditure
Item is NOT Related to Revenue
Total Fiscal Impact:
$3,053,661
Reviewed By
General Employees' and Sanitation Employees' Retirement Trust
Review Completed
08/02/2022 12:51 PM
Office of Management and Budget
Fred Pericles
Office of Management and Budget
Marie Gouin
City Manager's Office
Natasha Colebrook -Williams
City Manager's Office
Arthur Noriega V
Legislative Division
Valentin J Alvarez
Office of the City Attorney
Xavier Alban
Office of the City Attorney
Victoria Mendez
City Commission
Nicole Ewan
Office of the Mayor
Mayor's Office
Office of the City Clerk
City Clerk's Office
Office of the City Clerk
City Clerk's Office
Edgard Hernandez Department Head
Budget Analyst Review
Completed
08/02/2022
3:14
PM
Budget Review
Completed
08/05/2022
2:13
PM
Assistant City Manager Review
Completed
08/11/2022 12:32
PM
City Manager Review
Completed
08/12/2022 10:50
AM
Legislative Division Review
Completed
08/12/2022
3:28
PM
ACA Review
Completed
08/24/2022
1:10
PM
Approved Form and Correctness
Completed
08/24/2022
2:40
PM
Meeting
Completed
09/10/2022 10:00
AM
Signed by the Mayor
Completed
09/12/2022
1:29
PM
Signed and Attested by the City Clerk
Completed
09/12/2022
1:51
PM
Rendered
Completed
09/12/2022
1:51
PM
City of Miami
Legislation
Resolution
Enactment Number: R-22-0314
File Number: 12357
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:9/10/2022
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE CITY OF MIAMI
GENERAL EMPLOYEES' & SANITATION EMPLOYEES' RETIREMENT TRUST
("GESE RETIREMENT TRUST FUND"), ATTACHED AND INCORPORATED AS
EXHIBIT "A," IN THE AMOUNT OF $3,053,661, EXCLUDING NORMAL COSTS, AS
ACTUARIALLY DETERMINED, TO PROVIDE FOR THE ADMINISTRATION OF THE
GESE RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023.
WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended ("City
Code"), authorizes the Board of Trustees ("Trustees") to administer the City of Miami General
Employees' and Sanitation Employees' Retirement Trust Fund ("GESE Retirement Trust Fund");
and
WHEREAS, an annual budget is required to properly administer the GESE Retirement
Trust Fund; and
WHEREAS, the Trustees reviewed and approved the GESE Retirement Trust Fund
budget for Fiscal Year 2022-2023 on March 18, 2022; and
WHEREAS, the Trustees request the approval of the GESE Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2022, and ending September 30, 2023, in
the amount of $3,053,661, excluding normal costs as actuarially determined;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as is fully set forth in this Section.
Section 2. The GESE Retirement Trust Fund Fiscal Year 2022-2023 budget, attached
and incorporated as Exhibit "A," for the Fiscal Year commencing October 1, 2022, and ending
September 30, 2023, in the amount of $3,053,661, excluding normal costs, as actuarially
determined to provide for the administration of the GESE Retirement Trust Fund, is approved
and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
APPROVED AS TO FORM AND CORRECTNESS:
Vf t6ria-Vrd6z, City Attor iey 8/24/2022