HomeMy WebLinkAboutSummary Form SRAGENDA ITEM SUMMARY FORM -
FILE ID: f'�-64/7/9r--
Law Department
Matter ID No.
Date: 06/29/2012 Requesting Department: Office of Management & Budget
Commission Meeting. Date: 07/12/2012 District Impacted: Citywide
Type: ❑ Resolution Ordinance ❑ Emergency Ordinance ❑ Discussion Item
Subject: An Ordinance amending the Miami Fire Fighters' Relief and Pension Fund to allow for the transfer of
premium tax revenues from the Miami Fire Fighters' Relief and Pension Fund to the City of Miami Firefighters'
and Police Officers' Retirement Trust. This item passed on first reading at the June 28, 2012 Commission
Meeting.
•
Purpose of Item:
AN ORDINANCE OF THE MIAMI CITY COMMISSION AMENDING ORDINANCE NO. 6432,
ADOPTED SEPTEMBER 2, 1959, FURTHER AMENDED' PURSUANT TO ORDINANCE NO.
11462, ADOPTED MARCH 20, 1997, ENTITLED "THE MIAMI FIRE FIGHTERS' RELIEF AND
PENSION FUND," TO IMPLEMENT THE 2011- 2012 COLLECTIVE BARGAINING AGREEMENT
BETWEEN THE CITY OF MIAMI AND THE INTERNATIONAL ASSOCIATION OF FIREFIGHTERS
LOCAL 587; PROVIDING FOR THE TRANSFER OF CHAPTER 175 PREMIUM TAX REVENUES
RECEIVED IN 2012 FROM THE MIAMI ARE FIGHTERS' RELIEF AND PENSION FUND TO THE
CITY OF MIAMI FIREFIGHTERS' AND POLICE OFFICERS' RETIREMENT TRUST
Background Information:
Per the terms of the collective bargaining agreement for Fiscal Year 2011-2012 between the City of
Miami and International Association of Firefighters, AFL-CIO, Local 587, the parties agreed to
transfer certain premium tax revenues received by the City in 2012 pursuant to Chapter 175, Florida
Statutes. Said transfer from the Miami Fire Fighters' Relief and Pension Fund to 'the City's Miami
Firefighters' and Police Officers' . Retirement Trust ("FIPO") will reduce the City's annual required
contribution to the FIPO for the 2011-2012 plan year. To effectuate the transfer of premium tax, it is
necessary to amend the City Code accordingly. This item passed on first reading at the June 28,
2012 Commission Meeting.
Budget Impact Analysis
YES 'Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No;
Special Revenue Account No:
CIP Project No: •
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $4.900,000
Final Approvals
(SIGN AND DATE)
CIP N/A Budget ��✓t,��
l;r'usiiig* i eeiirng alpilnl'Rinds
Grants N/A Risk Management "N/A
Purchasing N/A Dept. Director N/A
Chief N/A City Manager
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