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Home My WebLink AboutO-10842JM � J-91-29 1/2/91 10842 ORDINANCE NO. AN OR INANCE AMENDING SECTIONS 1, 2, 4 AND 6 OF DINANCE NO. 10794, THE ANNUAL APPROP ATIONS ORDINANCE FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 1991, ADOPTED SEPTEMBE 27, 1990, AS AMENDED, FOR THE PURPOSE OF FORMALIZING CITY COMMISSION ACTIONS JD IMPLEMENTING OTHER AMENDATORY CHANGES; NTAINING A REPEALER PROVISION AND A SEVERABI TY CLAUSE. WHEREAS, the City Commission adopted Ordinance No. 10794, the Annual Appropriation Ordinance, on September 27, 1990, establishing revenues and propriations for the City of Miami, Florida, for the Fiscal Year ending September 30, 1991; and WHEREAS, amendatory adjustments to the FY 191 appropriations ordinance are tlined herein together with the explanation for said adjustments, and WHEREAS, Virginia Key Park ach will remain open on a year round basis instead of summers on for FY '91, and because of this decision $50,000 more revenue is expected to be realized than originally estimated; and WHEREAS, this additional seven e will fund necessary personnel and security costs to keep t e park open on a year round basis; and WHEREAS, the Department of Confere es, Conventions and Public Facilities, World Trade Center Garag Budget for FY 191 requires an additional $39,500 for the amortiz tion costs for the revenue control system installed at the Wo Id Trade Center Parking Garage; and WHEREAS, the City Commission approved th sale of Tax Anticipation Notes, Series 1990, in the amount o $15,000,000, pursuant to Resolution No. 90-736; and 10842 WHEREAS, the proceeds from said notes will cover anticipated temporary cash deficiencies during the Fiscal Year ending September 30, 1991; and WHEREAS, Resolution No. 90-738 requires the establishment of a debt service fund entitled "Note Fund Tax Anticipation Notes FY '911', funded from a pledge of Ad Valorem Tax Revenue; and WHEREAS, principal and interest for said fund for FY 191 amounts to $15,958,708; and WHEREAS, the General Fund will make a contribution to the Note Fund in the amount of $15,475,000; and WHEREAS, a sum of $2,815,130 has been allocated in the Utility Service Tax Special Revenue Fund to pay FY '91 principal and interest payment on the Certificate of Participation Notes (COP) and proper accounting principles require that this payment be made from the Fleet Management Division of the Environmental Services/Operations Management Department .rather than charged directly to the Utility Service Special Revenue Fund; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. Sections 1, 2, 4 and 6 of Ordinance No. 10794, adopted September 27, 1990, the Annual Appropriations Ordinance for the Fiscal Year ending September 30, 1991, are hereby amended in the following particulars:!/ "Section 1. The following appropriations are made for the municipal operation of the City of Miami, Florida, for the Fiscal Year 1990-91, including the payment of principal an interest on all General Obligation Bonds: Departments Boards and Offices A]2propr;ations * * * Parks and Recreation $-fig-} g$� S 10.793 003 Public * * * * * * * * * Special Programs and Accounts $-2g� 13}4 g 44 62, 274 !/ Words and/or figures stricken through shall be deleted. Underscored words and/or figures shall be added. The remaining provisions are now in effect and remain unchanged. Asterisks indicate omitted and unchanged material. - 2 - 10842 Total General. Fund Total General Operating Appropriations Enterprise Funds Conferences, Conventions and Public Facilities $i981-23i,993 S 213,831,093 • A K� $--1-* , 5 9 4, 15 S 11,634,215 * * * * * * * * * * * * * * Total Enterprise Funds 1/ $-59,263,291 $ 59,302,791 LESS: Amounts appropriated above in the General Fund in Special Programs and Accounts for deficit operations/ Fund Transfers $(-i4-124-920 ) S (.29 , 599 , 920 ) Total Operating Appropriations $268,983, S 269,148,065" "Section 2. The following appropriations are made for the municipal operations of Debt Service Funds of the City of Miami, Florida, for the Fiscal Year 1990-91: Debt Service Fund Note Fund Tax Anticipation Notes FY 191 S 15,958,708 Total Debt Service Fund $ 4,428,302 S 20,387 01011 "Section 4. The following activities, which are carried on for the service and convenience of other funds, shall be operated by the City Manager within the limits of the appropriations provided in the foregoing Departments, -Boards, Offices, and accounts of the City of Miami and other revenues or receipts which may be received: Internal Service Funds Appropriations Fleet Management $ 9,500,374 S 12,315,504 Total Internal Service Funds 18,861,794 S 21,676,92" "Section 6. The above appropriations are made based on the following sources of revenues for the 1990-91 Fiscal Year: - 3 - 10842 j General Fund All Sources Total General Funds Total General Operating Revenue Enterprise Funds Conferences, Conventions and Public Facilities Total Enterprise Funds 1,/ Amounts appropriated above in the General Fund in Special Programs and Accounts/ Fund Transfers Total Operating Revenues Debt Service Funds Note Fund Tax Anticipation Notes FY 191 Total Debt Service Funds Internal Service Funds Fleet Management Total Internal Service Funds Revenue fi19A I v �/ 2 S 213 831 '� 09 T _ $-198 ,-2 3-r,093 S 213 , 8 31, 0g 3 $-223 r 84-5, l S 239,445,194 11-594 _ ?-art S 59,302,791 $ 59,263--" ► ► S (29,599,9 ) 269,148,065 $268,983,565S S S 15,958,708 0 20,387.0 4,428r302 $ 12,315 504 / , $ 21,676,924 .Section 2. The increase in revenues and appropriations for the Parks, Recreation and Public Facilities Department in the amount of $50,000 is to pay costs associated with keeping Virginia Key Park Beach open on a year round basis instead of summers only. - 4 - 10842 Section 3. The increase in revenues and appropriations for Conferences, Conventions and Public Facilities in the amount of $39,500 is to pay amortization costs for the revenue control system installed at the World Trade Center Parking Garage. Section 4. The herein increase in revenue and appropriations in the amount of $15,958,708 is to establish a new fund entitled "Note Fund Tax Anticipation Notes FY 191". A contribution from the General Fund in the amount of $15,475,000 combined with interest earnings will support said fund. Section 5. The herein appropriation for the Fleet Management Division of the Environmental Services/Operations Management Department in the amount of $2,815,130 is to pay principal and interest for FY '91 for the Certificate of Participation Notes. Section 6. All ordinances or parts of ordinances insofar as they are inconsistent or in conflict with the provisions of this Ordinance are hereby repealed. Section 7. If any section, part of this section, paragraph, clause, phrase, or word of this Ordinance is declared invalid, the remaining provision of this Ordinance shall not be affected. Section 8. This Ordinance shall become effective thirty (30) days after final reading and adoption thereof. PASSED ON FIRST READING BY TITLE ONLY this 10th day of January , 1991. PASSED AND ADOPTED ON SECOND AND FINAL READING BY TITLE ONLY this 14th day of February , 1991. XAVIER S AREZ, XKYOR AT MATTY HIRAI CITY CLERK 5 _ 10842 BUDGETARY REVI MANOHAR S. SURAN 'DIRECTOR DEPARTMENT OF BUikET FINANCIAL REVIEW: C E. GARCIA, DIRECTOR DEPA TMENT OF FINANCE PREPARED AND APPROVED BY: !UNAEr. DIAZ CHIEF ASSISTANT C Y ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: OR4��k-�RNEY ANDEZ CITY ROD/gmb/M753 - 6 - 10842 I DEC-19--1910 WED 1 1 :44 DEBT OF BUDGET CITY OF MIAMI. FLORIDA INTEROFFICE MEMORANDUM tq Honorable Mayor and Members of the City Commission FROM Cesar H. Odi City Manager Recommendation: GATE • JAN - 3 1991 PILI : SUBJECT: Proposed Amendment to the FY991 Annual Appropriation RFF,A,N,,g0inance CNCLOSUREO: It is respectfully recommended that the city commission adopt the attached ordinance for the purpose of formalizing City Commission actions and implementing other amendatory changers. Background: The Departments of Budget and Finance have identified certain changes that should be made to ordinance No. 10794. The Annual Appropriations Ordinance for the Fiscal Year ending september.30, 1991. The reasons for the recommended changes are stated below. A $50,000 increase in appropriations for the Parks, Recreation and Public Facilities department to fund the coat of necessary personnel, and security contracts to keep the Virginia Key Park Beach open on a year round basis instead of summers only. A $39,500 increase in appropriations for the Conferences? Conventions and Public Facilities Department, world Trade Center Garage Budget to amortize the costs for the revenue control system installed at the World Trade center Parking Garage. A $15,9581708 appropriations for a new tax anticipation Note Debt Service Fund to be used to account for principal, and interest, payments for tax anticipation notes needed to cover temporary cash deficiencies anticipated for Fiscal. Year ending 9-30-91. Revenue to cover this appropriation will consist of a $15,475,000 contribution from the Generall Fund and interest earnings. A $15,550,000 increase in appropriations to the Genasral Fund/Special Programs and Accounts to make a contribution to the note fund in the amount of $15,475,000 and pay $75,000 for note issuance costs. 10842 1 H DEG-19-90 WED 1'1 0.4'3 DEPT. OF MIDGET P03 A $2p815,130 increase in appropriations to the Internal Service Fund, Fleet Management Division to pay PY'91 principal And interest payments on the Certificate of participation Notes (COP). Revenue is available from the Utility Service Tax Spacial Revenue Fund for name. Attachmentas Proposed Ordinance 10842 Please note and see me Please give me your comments Please note and return to me X For your information For your review and approval Immediate action desired Please prepare reply for my Please answer, with copy signature to me — Please follow through _For your signature Remarks: GSA-6 06/88