Laserfiche WebLink
<br />Preview <br /> <br />Page 1 of3 <br /> <br /> <br />City of Sunny Isles Beach <br />18070 Collins Avenue <br />Sunny Isles Beach, Florida 33160 <br /> <br />(305) 947-0606 City Hall <br />(305) 949-3113 Fax <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />The Honorable Mayor and City Commission <br /> <br />FROM: <br /> <br />Minai Shah, Assistant City Manager-Finance <br /> <br />DATE: <br /> <br />5120/2010 <br /> <br />RE: <br /> <br />Proposed Budget Amendments-Second Quarter <br /> <br />RECOMMENDATION: <br /> <br />Approve the attached Resolution to amend the FY 2010 Budget. <br /> <br />REASONS: <br /> <br />This amendment is necessary to ensure compliance with unanticipated changes to the FY 2010 <br />Budget. <br /> <br />General Fund (lQ} <br /> <br />The General Fund amendments consist of a total downward adjustment of $843,480. <br /> <br />There is an increase of $242,200 in unanticipated changes to operating expenses, including: <br /> <br />A. Emergency lump sum cash outs of vacation leave ($46,500) <br /> <br />B. Back-pay of retirement contribution and to account for current year adjustments ($40,000) <br /> <br />C. Separation costs ($140,000) <br /> <br />D. Increase in estimated budget costs for entrance canopy ($8,000) <br /> <br />E. Police Interview Surveillance system ($7,700 net of JAG grant of $6,520) <br /> <br />The increase in expenditures will be balanced by funds from the capital replacement expense <br />account. <br /> <br />F. During the first quarter of FY09/10, a budget amendment of $8,350,000 was made which <br /> <br />http://sibagenda. sibfl.netfagenda/Preview .aspx?I temID=254&MeetingID=0&MeetingDate... 5/1312010 <br />