Loading...
HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #9458 Date: 07/30/2021 Commission Meeting Date: 09/13/2021 Requesting Department: General Employees' and Sanitation Employees' Retirement Trust Sponsored By: District Impacted: All Type: Resolution Subject: Approve Annual Budget FY '22 - GESE Retirement Trust Fund Purpose of Item: To approve the budget for the City of Miami General Employees' & Sanitation Employees' Retirement Trust Fund for Fiscal Year 2021/2022, in the amount not to exceed $3,201,413, as actuarially determined, to provide for the administration of the GESE Retirement Trust Fund. Background of Item: Ordinance No. 10002, adopted on June 13, 1985, as amended by Gates, authorized the Board of Trustees to administer the City of Miami General Employees' & Sanitation Employees' Retirement Trust (GESE Retirement Trust Fund"); and as such, a budget is required to properly administer the GESE Retirement Trust Fund, and at the April 16, 2021, Board Meeting, The Board of Trustees approved this budget. Budqet Impact Analysis Item is an Expenditure Item is NOT Related to Revenue Total Fiscal Impact: $3,201,413 General Employees' and Sanitation Review Completed Office of Management and Budget Office of Management and Budget City Manager's Office City Manager's Office Legislative Division Office of the City Attorney Office of the City Attorney Office of the City Attorney City Commission Office of the Mayor Office of the City Clerk Office of the City Clerk Reviewed B Employees' Retirement Trust 08/06/2021 6:14 PM Fred Pericles Leon P Michel Natasha Colebrook -Williams Arthur Noriega V Valentin J Alvarez Xavier Alban Barnaby L. Min Victoria Mendez Nicole Ewan Mayor's Office City Clerk's Office City Clerk's Office Edgard Hernandez Department Head Budget Analyst Review Budget Review Assistant City Manager Review City Manager Review Legislative Division Review ACA Review Deputy City Attorney Review Approved Form and Correctness Meeting Completed Completed Completed Completed Completed Completed Completed Completed Completed Signed by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 08/08/2021 4:18 PM 08/11/2021 11:58 AM 08/11/2021 4:23 PM 08/13/2021 9:16 AM 08/13/2021 10:18 AM 08/13/2021 10:33 AM 08/13/2021 12:08 PM 08/13/2021 12:32 PM 09/13/2021 5:05 PM 09/23/2021 4:00 PM 09/23/2021 4:00 PM 09/23/2021 4:00 PM City of Miami Legislation Resolution Enactment Number: R-21-0362 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 9458 Final Action Date:9/13/2021 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING AND ADOPTING THE ANNUAL BUDGET OF THE CITY OF MIAMI GENERAL EMPLOYEES' & SANITATION EMPLOYEES' RETIREMENT TRUST ("GESE RETIREMENT TRUST FUND"), ATTACHED AND INCORPORATED AS EXHIBIT "A," IN THE AMOUNT OF $3,201,413.00, EXCLUDING NORMAL COSTS AS ACTUARIALLY DETERMINED, TO PROVIDE FOR THE ADMINISTRATION OF THE GESE RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2021 AND ENDING SEPTEMBER 30, 2022. WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended, authorizes a Board of Trustees ("Trustees") to administer the City of Miami General Employees' and Sanitation Employees' Retirement Trust Fund ("GESE Retirement Trust Fund"); and WHEREAS, an annual budget is required to properly administer the GESE Retirement Trust Fund; and WHEREAS, the Trustees reviewed and approved the GESE Retirement Trust Fund's budget for Fiscal Year 2021-2022 on April 16, 2021; and WHEREAS, the Trustees request the approval of the GESE Retirement Trust Fund's budget for the Fiscal Year commencing October 1, 2021 and ending September 30, 2022 in the amount of $3,201,413.00, excluding normal costs as actuarially determined, attached and incorporated as Exhibit "A;" 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 GESE Retirement Trust Fund Fiscal Year 2021-2022 budget, attached and incorporated as Exhibit "A," for the Fiscal Year commencing October 1, 2021 and ending September 30, 2022 in the amount of $3,201,413.00, excluding normal costs as actuarially determined, to provide for the administration of the GESE 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: