HomeMy WebLinkAboutSummary Form FRAGENDA ITEM SUMMARY FORM
FILE ID; 3 -' p it)
Date: 09/24/13 Requesting Department: Office of Management & Budget
Commission Meeting Date: 10/10/13
Type: ❑ Resolution
District Impacted: N/A
Ordinance 0 Emergency Ordinance Discussion Item
Law Department
Matter ID No.
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.
Purpose of Item:
AN ORDINANCE OF THE MIAMI CITY COMMISSION AMENDING ORDINANCE NO. 6432,
ADOPTED SEPTEMBER 2, 1959, AS SUBSEQUENTLY AMENDED, ENTITLED "THE MIAMI
FIRE FIGHTERS' RELIEF AND PENSION FUND", TO IMPLEMENT THE 2012-2013 AND
2013-2014 COLLECTIVE BARGAINING AGREEMENT BETWEEN THE CITY OF MIAMI
AND THE INTERNATIONAL ASSOCIATION OF FIREFIGHTERS LOCAL 587; PROVIDING
FOR TFIE TRANSFER OF CHAPTER 175 PREMIUM TAX REVENUES RECEIVED IN 2013
AND 2014 FROM THE MIAMI FIRE 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 Years 2012-13 and 2013-14 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 2013 and 2014 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 2012-2013 and 2013-2014 plan years. To effectuate
the transfer of premium tax, it is necessary to amend the City Code accordingly.
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:
$3,380,875 (FY 2012-13) and $3,380,875 (FY 2013-14)
Final Approvals
,(SIGN AND DATE)
CIP Buda
Grants
Risk Management
Purchasing Dept. Dire
Chief City Manage
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