HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #12357
Date: 07/25/2022
Commission Meeting Date: 09/10/2022
Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Sponsored By:
District Impacted: All
Type: Resolution
Subject: Approve Annual Budget FY '23 - 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 2022/2023, in the amount not to
exceed $3,053,661, as actuarially determined, to provide for the administration of the
GESE Retirement Trust Fund.
Background Information:
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 March 18,
2022, 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:
$3,053,661
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
City Commission
Office of the Mayor
Office of the City Clerk
Office of the City Clerk
Reviewed B
Employees' Retirement Trust
08/02/2022 12:51 PM
Fred Pericles
Marie Gouin
Natasha Colebrook -Williams
Arthur Noriega V
Valentin J Alvarez
Xavier Alban
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
Approved Form and Correctness
Meeting
Signed by the Mayor
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
08/02/2022 3:14 PM
08/05/2022 2:13 PM
08/11/2022 12:32 PM
08/12/2022 10:50 AM
08/12/2022 3:28 PM
08/24/2022 1:10 PM
08/24/2022 2:40 PM
09/10/2022 10:00 AM
09/12/2022 1:29 PM
09/12/2022 1:51 PM
09/12/2022 1:51 PM
City of Miami
Legislation
Resolution
Enactment Number: R-22-0314
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 12357 Final Action Date:9/10/2022
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 $3,053,661, EXCLUDING NORMAL COSTS, AS
ACTUARIALLY DETERMINED, TO PROVIDE FOR THE ADMINISTRATION OF THE
GESE RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023.
WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended ("City
Code"), authorizes the 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
budget for Fiscal Year 2022-2023 on March 18, 2022; and
WHEREAS, the Trustees request the approval of the GESE Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2022, and ending September 30, 2023, in
the amount of $3,053,661, excluding normal costs as actuarially determined;
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 2022-2023 budget, attached
and incorporated as Exhibit "A," for the Fiscal Year commencing October 1, 2022, and ending
September 30, 2023, in the amount of $3,053,661, 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: