HomeMy WebLinkAboutLetterJEB BUSH
GOVERNOR
December 14, 2001
OVERSIGHT BOARD
I50 West Flagler Street. Suite 1815
Miami, Florida 33130
Phone (305) 347-5633 Fax (305) 371-3160
The Honorable Jeb Bush, Governor
State of Florida
The Capitol, PL 05
Tallahassee, Florida 32399-0001
Dear Governor Bush:
Attached is the Final Report of the Financial Oversight Board (FOB) for the City of
Miami, we plan to adopt this report as our final action at our final meeting on December
18. This report outlines the work of the FOB over the past five years, successfully
concluding the period for the FOB pursuant to the Intergovernmental Cooperation
Agreement (ICA) with the City of Miami.
Maria Camila Leiv,
Chairman
Sharon Bro\vn
Gabriel Bustamantf
Reginald Clyne
Sheldon Schneider
The City's external auditors have provided affirmation that the City has ended each of the
past five fiscal years with balanced operations. Pursuant to its' terms, the ICA terminates
once the City has ended each of the past five fiscal years with balanced operations. No
other financial emergency conditions have arisen concluding the terms of the ICA.
Therefore, the FOB is dissolved with the end of the ICA. We do however recommend
that you should not declare the financial emergency over pursuant to s. 218.504 F.S. until
the external auditor has issued the FY 2000-01 audit, expected for release in March 2002.
We would like to thank former Mayor Carollo and the City Commission as well as the
City's staff for their dedicated effort to complying with the ICA. This process would not
have been successful without their complete commitment to its terms and conditions. We
appreciate the hard work of all past FOB members and the staff to the FOB, all of whom
made significant contributions to the success of this process. Lastly, the FOB would like
to thank you, Governor Bush for your continued support of this process over the past
three years.
Sincerely,
Haelcr Coml. LG
Maria Camila Levia, Chair
Sharon Brown, Vice Chair
411,
Sheldon Schneider
Gabriel M. B amante
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THE CAPITOL
TALLAHASSEE. FLORIDA 32399-0001
The Honorable Manuel A. Diaz
Mayor. City of Miami •
1500 Pan American Drive
P. O. Box 330708
Miami, FL 33233-0708
Dear Mayor Diaz:
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March 19, 2002
My office has reviewed the Comprehensive Annual Financial Report of the City of
Miami for the fiscal year ending September 30.2001, and submitted to me pursuant to
the final action of the Financial Oversight Board. The Report confirms the City has
implerneffed an effective accounting and reporting system and has now eliminated the
financial emergency conditions which previously existed No new financial emergency
conditions were identified by the independent auditor, KPMG.
In accordance with F.S. 218.504, I hereby declare that the City of Miami is no longer in a
state of financial emergency. I offer my sincere congratulations to the people of Miami,
its elected leaders and city employees for their hard work, dedication and commitment to
resolving the financial emergency and re-establishing a system of sound financial
management,
Sincerely,
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Jeb Bush
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