HomeMy WebLinkAboutMemo - Quarterly UpdateCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Daniel J. Alfonso
City Manager, City of Miami
FROM: Jose Fernandez
Director
Finance Depart
DATE: April 6, 2016
SUBJECT: Quarterly Update
Non -Reimbursable Grant
Expenditures for Quarter Ending
12/31/15
REFERENCES:
ENCLOSURES:
This memo serves as an update to the Quarterly Non -Reimbursable Grant Expenditures for
quarter ending 12/31/15. In compliance with the requirements of the Financial Integrity Principles,
the following expenditures took place that have been determined as non -reimbursable:
1. Capital Improvements Program-Pallot Park
Amount: $25,911 Florida Inland Navigation District ("FIND") funds
Reason for disallowance: fund award had expired, the execution of a construction
contract was not done before Design -Phase 1 expiration
2. Capital Improvements Program -Miami Women's Club Baywalk
Amount: $26,214.20 Florida Inland Navigation District ("FIND") funds
Reason for disallowance: fund award had expired, the execution of a construction
contract was not done before Design -Phase 1 expiration
3. Capital Improvements Program -Miami River Greenway
Amount: $133,936 Florida ❑epartment of Transportation ("FDOT") funds
Reason for disallowance: Costs incurred before the Notice to Proceed date of
February 4, 2015
As per Section 18-542 of the City of Miami Code, the Department of Finance shall make a
quarterly determination of the amount of expenses incurred which may not be reimbursable
funded by grants or other entities on a reimbursement basis. A quarterly report of expenses
incurred but not reimbursable shall be presented to the City Commission, together with actions
needed to avoid project deficits.
JMF/Is
FN201600003
PART II —THE CODE
Chapter 18— FINANCE
ARTICLE IX. — FINANCIAL POLICIES
DIVISION 2. FINANCIAL INTEGRITY PRINCIPLES
DIVISION 2. FINANCIAL INTEGRITY PRINCIPLES
Sec. 18-542. - Financial integrity principles.
The following financial integrity principles are hereby adopted:
(1) Structurally balanced budget. The city shall maintain a structurally -balanced budget. Recurring
revenues will fund recurring expenditures.
(2) Estimating conference process. The city shall adopt budgets and develop its long and short-term
financial plan utilizing a professional estimating conference process. Conference principals shall
include, but not be limited to: one principal from the budget office; one principal from the finance
department and two non -staff principals with public finance expertise.
(3)
lnterfund borrowing. The city shall not borrow or use internal fund transfers to obtain cash from one
fund type or reserve to fund activities of another fund type or reserve unless such use is deemed
lawful, and unless the estimatingconference has determined that (a) the funds to be loaned will not
be needed during the lending period, and (b) the funds for repayment will be available within a two-
year period. Any actions taken to borrow funds under these conditions must be separately presented
to and approved by the city commission and the term of such borrowing shall not extend beyond the
last day of the subsequent fiscal year.
Recognizing that some programs are funded by grants or other entities on a reimbursement basis, the
city shall apply for such reimbursements on a timely basis to minimize the period that city funds are
used as float. In the event loans/float for these reimbursements extend beyond theend of a fiscal
year, such reimbursements shall be reflected as receivables in the comprehensive annual financial
statements report (CAFR) to the extent allowed under accounting principles generally accepted in the
United States of America (GAAP). The de artnnent of finance shall make a uarterl determination
of the amount of expenses incurred which may not be reimbursable under these programs. A
quarterly report of expenses incurred but not reimbursable shall be presented to the city
commission, together with the actions needed to avoid project deficits.
Miami, Florida, Code of Ordinances Page 1