HomeMy WebLinkAboutR-80-0692LCD/smc/E
9/19/80
RESOLUTION NO. 8 0 - 6 9 2
A RESOLUTION AUTHORIZING THE TRANSFER OF AVAILABLE
FUNDS FROM FLORIDA POWER AND LIGHT FRANCHISE FEES
TO THE GENERAL FUND.
�f .r f ?'
WHEREAS, the City Commission adopted Ordinance No, 9000 on October
17, 1979, establishing revenues and appropriations for the City of Miami,
Florida, for the fiscal year ending September 30, 1980; and
WHEREAS, Ordinance No. 9165, adopted September 15, 1980, adjusted
the FY 1980 Budget to reflect changes that have occurred since its adoption;
and
WHEREAS, said changes were necessary in order to comply with
proper budgetary and accounting procedures; and
WHEREAS, it has been determined that an additional adjustment must
be made to the FY 1980 Budget which will not require a formal amendment to
the Appropriations Ordinance; and
WHEREAS, said adjustment will reflect a projected revenue short-
fall of $417,278 in Property Taxes due to revisions to the tax roll and early
payment discounts; and
WHEREAS, the above mentioned projected sV rtfall must be offset
DOCUMENT Work
in order to balance the FY 1980 Budget; and ITEM NO /�
WHEREAS, funds are available from Florida Power an iy n-
chise fees in the Capital Improvement Fund and can be transferred into the
General Fund for the above mentioned purpose;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1, A transfer of $417,278 in Florida Power and Light
franchise fees from the Capital Improvement Fund to the General Fund is hereby
authorized to offset a projected shortfall in Property Tax revenues.
CITY COMMISSION
MEETING OF
SEP251980
80-G
RE�01,UIlON NOS.....................
92
rl".
PASSED AND ADOPTED THIS
1980.
ATTEST:
`� RULP�f'G OPIGIE, CITY CLERY. LC
BUDGETARY REVIEW:
PIN OI-IAR ANA, ACTIWG DIRECTOR
DEPARTMEN• MANAGEMENT AND BUDGET
LEGAL REVIEW:
ROBERT F. CLARK
ASSISTANT CITY ATTORNEY
25
-2-
day of _SEPTEMBER
MAURICE A. FERRE
RAURICE A. F E R R E
M A Y 0 R
w vv
APPROVED AS TO FORM AND CORRECTNESS:
U4 VI\' 1 IN 1vn, VI\.
CITY TTORNEY
80-692
Richard L. Fosmoen
City Manager
Manohar S. Surana, ing Director
Department of Plan t and Budget
September 19, 1980 R-FY180 Ch
A Resolution Transferring
Available Funds from Florida
Power and Light Franchise Fees
,to the General Fund
It is recommended that a resolution ,be adopted
authorizing the transfer of available funds from
Florida Power and Light franchise fees to the
General Fund.
Ordinance No. 9165, adopted September 15, 1980, amended the FY 1980 Budget
to reflect changes that have occurred since its adoption. These changes
were required to follow proper budgetary and accounting procedures.
It has been determined that an additional adjustment must be made to the
budget. This additional adjustment is necessary due to a projected short-
fall in Property Taxes of $417,278 because of revisions to the tax roll and
early payment discounts. It should be noted that the herein mentioned ad-
justment does. not require a formal amendment to the Appropriations
Ordinance.
It is recommended that funds in the amount of $417,278 be transferred from
Florida Power and Light franchise fees in the Capital Improvement Fund to
the General Fund td offset the aforementioned shortfall.
The attached resolution has been prepared for the September 25, 1980 City
Cominission Meeting.
sc/V
80-692