HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #16148
Date: 05/30/2024
Commission Meeting Date: 09/07/2024
Requesting Department: Firefighters' and
Police Officers' Retirement Trust
Sponsored By:
District Impacted: N/A
Type: Resolution
Subject: Approve Annual Budget FY '25 - Firefighters' and Police Officers' Retirement
Trust
Purpose of Item:
Request approval of Administrative Cost Budget for the Fire and Police Retirement
Trust for Fiscal Year 2024-2025 in the amount of $2,039,790.
Background of Item:
As per Ordinance No.10002 adopted by the City Commission on June 13, 1985,
authorizing a Board of Trustees to administer Fire Fighters' and Police Officers'
Retirement Trust Fund and fund the budget required to properly administer said Trust
Fund.
Budget Impact Analysis
Item is Related to Revenue
Item is an Expenditure
Total Fiscal Impact:
Total Fiscal Impact: $ 2,039,790
Reviewed B
Firefighters' and Police Officers' Retirement Trust
Review Completed 05/30/2024 11:26 AM
Office of Management and Budget Fred Pericles
Office of Management and Budget Carolina Aguila
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 George K. Wysong III
Office of the City Attorney Mabel Betancourt
City Commission Maricarmen Lopez
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
Dania Orta
Budget Analyst Review
Budget Analyst Review
Budget Review
Assistant City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Approved Form and Correctness
Meeting
Department Head
Completed
Skipped
Completed
Completed
Completed
Completed
Completed
Completed
Skipped
Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
05/30/2024 12:17 PM
05/30/2024 10:52 AM
06/05/2024 2:46 PM
06/05/2024 3:38 PM
06/11/2024 11:32 AM
07/23/2024 2:10 PM
08/09/2024 4:23 PM
08/28/2024 5:18 PM
07/12/2024 8:25 AM
09/07/2024 10:00 AM
09/12/2024 2:54 PM
09/12/2024 3:35 PM
09/12/2024 3:35 PM
City of Miami
Legislation
Resolution
Enactment Number: R-24-0320
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16148 Final Action Date:9/7/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE CITY OF MIAMI FIRE
FIGHTERS' AND POLICE OFFICERS' RETIREMENT TRUST FUND ("FIPO
RETIREMENT TRUST FUND"), ATTACHED AND INCORPORATED AS EXHIBIT "A",
IN THE AMOUNT OF $2,039,790.00, TO PROVIDE FOR THE ADMINISTRATION OF
THE FIPO RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2024, AND ENDING SEPTEMBER 30, 2025.
WHEREAS, Section 40-194 of the Code of the City of Miami, Florida, as amended,
authorizes the Board of Trustees ("Trustees") to administer the City of Miami ("City") Fire
Fighters' and Police Officers' Retirement Trust Fund ("FIPO Retirement Trust Fund"); and
WHEREAS, an annual budget is required to properly administer the FIPO Retirement
Trust Fund; and
WHEREAS, the Trustees reviewed and approved the FIPO Retirement Trust Fund
budget for Fiscal Year 2024-2025 on April 18, 2024; and
WHEREAS, the Trustees request the approval of the FIPO Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2024, and ending September 30, 2025, in
the amount of $2,039,790.00;
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 FIPO Retirement Trust Fund's Fiscal Year 2024-2025 budget, attached
and incorporated as Exhibit "A", for the Fiscal Year commencing October 1, 2024, and ending
September 30, 2025, in the amount of $2,039,790.00, to provide for the administration of the
FIPO Retirement Trust Fund, 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:
g III, C y`attor ey j 8/28/2024