HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #17871
Date: 07/16/2025
Commission Meeting Date: 09/13/2025
Requesting Department: Firefighters' and
Police Officers' Retirement Trust
Sponsored By:
District Impacted: N/A
Type: Resolution
Subject: Approve Annual Budget FY '26 - Firefighters' and Police Officers' Retirement
Trust
Purpose of Item:
Request approval of Administrative Cost Budget for the Fire and Police Retirement
Trust for Fiscal Year 2025-2026 in the amount of $2,066,413.00.
Background of Item:
As per Ordinance No.10002 adopted by the City Commission on June 13, 1985,
authorizing a Board of Trustees to administer Fire Fighters' and Police Officers'
Retirement Trust Fund and fund the budget required to properly administer said Trust
Fund.
Budget Impact Analysis
Item is Related to Revenue
Item is an Expenditure
Total Fiscal Impact:
Total Fiscal Impact: $ 2,066,413.00
Reviewed B
Firefighters' and Police Officers' Retirement Trust
Review Completed 07/16/2025 1:50 PM
Office of Management and Budget Fred Pericles
Office of Management and Budget Marie Gouin
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
Mabel Betancourt
Mabel Betancourt
Larry M. Spring
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
Dania Orta Department Head
Budget Analyst Review
Budget Review
Assistant City Manager Review
Deputy City Manager Review
Assistance City Manager Review
City Manager Review
Legislative Division Review
ACA Review
Approved Form and Correctness
Meeting
Completed
Completed
Skipped
Skipped
Completed
Completed
Completed
Completed
Completed
Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
Rendered Completed
08/07/2025 4:04 PM
08/11/2025 9:58 AM
08/11/2025 2:47 PM
08/11/2025 2:50 PM
08/13/2025 1:18 PM
08/13/2025 1:31 PM
08/13/2025 2:47 PM
08/29/2025 3:37 PM
08/29/2025 3:45 PM
09/13/2025 10:00 AM
09/16/2025 3:53 PM
09/16/2025 4:02 PM
09/16/2025 4:02 PM
City of Miami
Legislation
Resolution
Enactment Number: R-25-0381
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17871 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 FIRE
FIGHTERS' AND POLICE OFFICERS' RETIREMENT TRUST FUND ("FIPO
RETIREMENT TRUST FUND"), ATTACHED AND INCORPORATED AS EXHIBIT "A,"
IN THE AMOUNT OF TWO MILLION, SIXTY-SIX THOUSAND, FOUR HUNDRED
THIRTEEN AND 00/100 DOLLARS ($2,066,413.00), TO PROVIDE FOR THE
ADMINISTRATION OF THE FIPO RETIREMENT TRUST FUND FOR THE FISCAL
YEAR COMMENCING OCTOBER 1, 2025, AND ENDING SEPTEMBER 30, 2026.
WHEREAS, Section 40-194 of the Code of the City of Miami, Florida, as amended,
authorizes the Board of Trustees ("Trustees") to administer the City of Miami Fire Fighters' and
Police Officers' Retirement Trust Fund ("FIPO Retirement Trust Fund"); and
WHEREAS, an annual budget is required to properly administer the FIPO Retirement
Trust Fund; and
WHEREAS, the Trustees reviewed and approved the FIPO Retirement Trust Fund
budget for Fiscal Year 2025-2026 on April 17, 2025; and
WHEREAS, the Trustees request the approval of the FIPO Retirement Trust Fund
budget for the Fiscal Year commencing October 1, 2025, and ending September 30, 2026, in
the amount of Two Million, Sixty -Six Thousand, Four Hundred Thirteen and 00/100 Dollars
($2,066,413.00), 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 FIPO Retirement Trust Fund's 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 Two Million, Sixty -Six Thousand, Four Hundred Thirteen
and 00/100 Dollars ($2,066,413.00), to provide for the administration of the FIPO 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:
g III, C y`attor ey j 8/29/2025