HomeMy WebLinkAbout2017-12-376 - Budget Amendment 3 MillionORDINANCE NO. 2017-12-376
AN ORDINANCE OF THE CITY OF MIAMI GARDENS, FLORIDA,
AMENDING THE CITY'S BUDGET FOR THE 2016-2017 FISCAL
YEAR; AUTHORIZING THE CITY MANAGER TO MAKE CERTAIN
ADJUSTMENT: AUTHORIZING THE CITY MANAGER TO TAKE
ALL ACTIONS NECESSARY TO IMPLEMENT THE TERMS AND
CONDITIONS OF THIS ORDINANCE; PROVIDING FOR AN
ADDITIONAL READING IN ACCORDANCE WITH THE CITY'S
CHARTER; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, in accordance with Section 4.5 of the City of Miami Gardens
Charter, the City Council adopted a Budget for Fiscal Year 2016-2017, and
WHEREAS, it is appropriate to provide for certain transfers, appropriations
and authorizations based upon previous and anticipated expenditures and
revenues,
WHEREAS, the City Council has determined that it is necessary to amend
the budget to reflect these changes,
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF MIAMI GARDENS, FLORIDA, AS FOLLOWS:
SECTION! ADOPTION OF REPRESENTATIONS: The foregoing
Whereas Clauses are hereby ratified and confirmed as being true, and the same
are hereby made a specific part of this Ordinance.
SECTION 2. AMENDMENT TO BUDGET:
The following amounts are hereby appropriated from fund balance of the Capital
Projects Fund and Special Revenue Fund (Police Impact Fees). Transfers in
and out of the appropriate funds will be required, said monies appropriated will
be part of the adopted annual operating budget for the fiscal year beginning
October 1, 2016, and ending September 30, 2017:
ORDINANCE NO. 2017-12-376
Purpose Amount
Add'll Principal Payment to Series 2016 Issuance $2,700,000
Transfer to Debt Service Fund $2,700,000
Add'll Principal Payment to Series 2016 Issuance $300,000
Transferto Debt Service Fund $300,000
Transfer in from other funds $2,700,000
Transfer in from other funds $300,000
Add'll Principal Payment to Series 2016 Issuance $3,000,000
Account No.
300-00-00-389-901-00
300-12-01-512-918-21
106-00-00-389-901-00
106-19-01-S19-918-21
201-00-00-381-025-30
201-00-00-381-002-16
201-17-01-S17-710-16
Descrlptoln
Re-appropriated Fund Balance
Trans to Debt Service Fund
Re-appropriated Fund Balance
Trans to Debt Service Fund
Transferin from Capitia Projects Fund
Transfer in From Special Revenue Fund
Principal Payment - $6.0 M loan
Fund
Capital Projects Fu
Capital Projects Fu
Special Revenue Fi
Special Revenue Fi
Debt Sen/ice Fun
Debt Service Fun
Debt Service Fun
SECTIONS. INSTRUCTIONS TO THE CITY MANAGER; The City
Manager shall take all actions necessary to implement the terms and conditions
of this ordinance.
SECTION 4. CONFLICT: All ordinances or Code provisions in conflict
herewith are hereby repealed.
SECTION 5. SEVERABILITY: If any section, subsection, sentence, clause,
phrase or portion of this Ordinance is for any reason held invalid or unconstitutional
by any court of competent jurisdiction, such portion shall be deemed a separate,
distinct and independent provision and such holding shall not affect the validity of
the remaining portions of this Ordinance.
SECTION 6. EFFECTIVE DATE: This ordinance shall take effect
immediately upon its passage.
PASSED on first reading this 12th day of September. 2017
PASSED AND ADOPTED on second reading this^^Ztl-fJay of SEPTEMBER,
2017.
I
Oliver Gilbert III, MAYOR
ATTEST:
ORDINANCE NO. 2017-12-376
RONETTA TAYLOR, Cl\^, CITY CLERK
Reviewed by SONJA K. DICKENS, ESQ.
City Attorney
SPONSORED BY: Cameron D. Benson. City Manager
MOVED BY:
SECONDED BY::
VOTE: 7^(0
Mayor Oliver Gilbert III "^(Yes) (No)
Vice Mayor Erhabor Ighodaro (Yes) (No)
Councilwoman Felicia Robinson (Yesi (No)
Councilwoman Lillie Odom (Yes) (No)
Councilwoman Lisa Davis "Z^(Yes) (No)
Councilman David Williams Jr. (Yes) (No)
Councilman Rodney Harris u (Yes) (No)
ORDINANCE NO. 2017-12-376
18605 NW 27 Ave
Miami Gardens, Florida 33056
City of Miami Gardens
Agenda Cover Memo
Council Meeting Date:
September 27, 2017 Item Type:
(Enter X in box)
Resolution Ordinance Other
X
1st Reading 2nd Reading
X
Yes No Yes No
X
Yes No
X
Yes No
Yes No
Sponsor Name
Cameron Benson,
City Manager
Department:
City Manager
Finance
Short Title:
AN ORDINANCE OF THE CITY OF MIAMI GARDENS, FLORIDA, AMENDING THE
CITY’S BUDGET FOR THE 2016-2017 FISCAL YEAR; AUTHORIZING THE CITY
MANAGER TO MAKE CERTAIN ADJUSTMENT; AUTHORIZING THE CITY MANAGER
TO TAKE ALL ACTIONS NECESSARY TO IMPLEMENT THE TERMS AND CONDITIONS
OF THIS ORDINANCE; PROVIDING FOR AN ADDITIONAL READING IN ACCORDANCE
WITH THE CITY’S CHARTER; PROVIDING FOR AN EFFECTIVE DATE.
Staff Summary:
In September 2016, the City issued an additional $6 million financing for the completion of the City Hall and Police
Headquarter building. In November 2016, the City received the settlement from URS in the amount of $3.5
million. Also, the installation of the Photovoltaic panels is close to completion and staff is not expecting to have
any additional cost to the project. When the schedule debt payment for the $6 million in July 2017, the City has
made an additional principal of $3 million, therefore, this will reduce the future debt service of this issuance.
AGENDA ITEM I-2
FY 2016-2017 BUDGET AMENDMENT
18605 NW 27 Ave
Miami Gardens, Florida 33056
Staff has to perform a transfer from the Capital Projects Fund where the settlement was recorded in the amount
of $2,700,000 and $300,000 from the Special Revenue Fund (Police Impact fees) to the Debt Service Fund for this
additional principal payment. A Budget Amendment Ordinance is required to perform such action.
Proposed Action:
Staff recommends Council to adopt the Budget Ordinance
Attachment:
Budget Ordinance