HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #17933
Date: 07/30/2025
Commission Meeting Date: 09/13/2025
Requesting Department: General
Employees' and Sanitation Employees'
Retirement Trust
Sponsored By:
District Impacted:
Type: Resolution
Subject: Approve Annual Budget FY '26 - 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 2025/2026, in the amount not to
exceed $3,345,018.00 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 25,
2025, Board Meeting, the Board of Trustees approved this budget.
Budget Impact Analysis
Item is NOT Related to Revenue
Item is an Expenditure
Total Fiscal Impact:
Total Fiscal Impact: $3,345,018.00
General Employees' and Sanitation
Review Completed
Office of Management and Budget
Office of Management and Budget
City Manager's Office
City Manager's Office
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
08/14/2025 10:43 AM
Fred Pericles
Marie Gouin
Mabel Betancourt
Mabel Betancourt
Erica T. Paschal
Arthur Noriega V
Valentin J Alvarez
Xavier Alban
George K. Wysong III
Maricarmen Lopez
Mayor's Office
City Clerk's Office
City Clerk's Office
Edgard Hernandez
Department Head
Budget Analyst Review Completed
Budget Review Completed
Assistant City Manager Review Skipped
Deputy City Manager Review Skipped
ACM Review Completed
City Manager Review Completed
Legislative Division Review Completed
ACA Review Completed
Approved Form and Correctness Completed
Meeting Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
08/18/2025 10:40 AM
09/04/2025 11:27 AM
08/11/2025 2:56 PM
08/11/2025 2:57 PM
09/04/2025 11:40 AM
09/04/2025 1:15 PM
09/04/2025 2:01 PM
09/05/2025 7:27 AM
09/05/2025 11:01 AM
09/13/2025 10:00 AM
09/16/2025 3:52 PM
09/16/2025 4:01 PM
09/16/2025 4:01 PM
City of Miami
Legislation
Resolution
Enactment Number: R-25-0379
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17933 Final Action Date:9/13/2025
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 AS EXHIBIT "A," IN THE
AMOUNT OF THREE MILLION, THREE HUNDRED FORTY-FIVE THOUSAND,
EIGHTEEN AND 00/100 DOLLARS ($3,345,018.00), EXCLUDING NORMAL COSTS,
AS ACTUARIALLY DETERMINED, TO PROVIDE FOR THE ADMINISTRATION OF
THE GESE RETIREMENT TRUST FUND FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2025, AND ENDING SEPTEMBER 30, 2026.
WHEREAS, Section 40-243 of the Code of the City of Miami, Florida, as amended,
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 2025-2026 on April 25, 2025; and
WHEREAS the Trustees request the approval of the GESE Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2025, and ending September 30, 2026, in
the amount of Three Million, Three Hundred Forty -Five Thousand, Eighteen and 00/100 Dollars
($3,345,018.00), 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 2025-2026 budget, attached
and incorporated as Exhibit A, for the Fiscal Year commencing October 1, 2025, and ending
September 30, 2026, in the amount of Three Million, Three Hundred Forty -Five Thousand,
Eighteen and 00/100 Dollars ($3,345,018.00), 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
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: