HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #14427
Date: 08/07/2023
Commission Meeting Date: 09/09/2023
Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Sponsored By:
District Impacted:
Type: Resolution
Subject: Approve Annual Budget FY '24 - GESE Trust Excess Benefit Plan
Purpose of Item:
To approve the budget for the City of Miami General Employees' & Sanitation
Employees' Excess Benefit Plan Budget for Fiscal Year 2023/2024, in the amount not to
exceed $108,105, excluding the actuarially determined annual benefit payment, to
provide for the administration of the GESE Excess Benefit Plan.
Background of Item:
Ordinance No. 10002, adopted on June 13, 1985, 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 17, 2023, The Board of
Trustees approved this budget.
Budget Impact Analysis
Item is an Expenditure
Item is NOT Related to Revenue
Total Fiscal Impact:
$108,105
General Employees' and Sanitation
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
Reviewed B
Employees' Retirement Trust
08/17/2023 11:18 AM
Fred Pericles
Marie Gouin
Natasha Colebrook -Williams
Arthur Noriega V
Valentin J Alvarez
Xavier Alban
Victoria Mendez
Maricarmen Lopez
Mayor's Office
City Clerk's Office
City Clerk's Office
Edgard Hernandez
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Signed by the Mayor
Department Head
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
08/24/2023 11:19 AM
08/24/2023 1:39 PM
08/24/2023 4:33 PM
08/24/2023 4:53 PM
08/25/2023 10:10 AM
08/28/2023 2:43 PM
08/31/2023 8:57 AM
09/09/2023 10:00 AM
09/15/2023 1:37 PM
09/15/2023 1:46 PM
09/15/2023 1:46 PM
/
City of Miami
Legislation
Resolution
Enactment Number: R-23-0367
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 14427 Final Action Date:9/9/2023
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' EXCESS BENEFIT PLAN
("GESE EXCESS BENEFIT PLAN"), ATTACHED AND INCORPORATED AS EXHIBIT
"A", IN THE AMOUNT OF $108,105.00, TO PROVIDE FOR THE ADMINISTRATION
OF THE GESE EXCESS BENEFIT PLAN FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2023, AND ENDING SEPTEMBER 30, 2024.
WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended,
authorizes the Board of Trustees ("Trustees") to administer the City of Miami General
Employees' and Sanitation Employees' Excess Benefit Plan ("GESE Excess Benefit Plan"); and
WHEREAS, an annual budget is required to properly administer the GESE Excess
Benefit Plan; and
WHEREAS, the Trustees reviewed and approved the GESE Excess Benefit Plan budget
for Fiscal Year 2023-2024 on March 17, 2023; and
WHEREAS, the Trustees request the approval of the GESE Excess Benefit Plan budget
for the Fiscal Year commencing October 1, 2023, and ending September 30, 2024, in the
amount of $108,105.00;
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 2023-2024 budget, attached
and incorporated as Exhibit "A", for the Fiscal Year commencing October 1, 2023, and ending
September 30, 2024, in the amount of $108,105.00, to provide for the administration of the
GESE Excess Benefit Plan, is approved and adopted.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.
1 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: