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<br />Preview <br /> <br />Page 1 of2 <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 />MinalShah, Assistant City Manager-Finance <br /> <br />DATE: <br /> <br />1/19/2012 <br /> <br />RE: <br /> <br />FY 2011/2012 Proposed Budget Amendment-General Fund <br /> <br />RECOMMENDATION: <br /> <br />Staff is recommending City Commission approve the attached ordinance for the General <br />Fund Fiscal Year 2011/2012 budget amendment to ensure budgetary compliance. <br /> <br />REASONS: <br /> <br />The amendment is necessary to account for unanticipated increases to the FY 2011/2012 <br />budget. <br /> <br />General Fund (10) <br />A. Increase Insurance Subrogation revenue account for the insurance proceeds as a result <br />of damages occurred to the City's bucket truck. ($40,000) <br />B. Increase Capital Outlay-Vehicles for the purchase of the bucket truck including <br />outfitting it to City specifications (i,e. graphics) ($85,000) <br />C. Increase the City Commission-Special Events account for costs associated with the <br />Developer's Dinner and the Employee Recognition Luncheon. ($14,000) <br />D. Increase the CHS-Other Contractual Services for the costs associated for expanding <br />operating hours of the County Library. ($12,000) <br />E. Decrease debt service-interest. Savings on the semiannual interest payment as a result <br />of the refunding of the 2001 A Revenue Bond. <br />F, The City had a surplus at the end Fiscal Year 2010/2011 that was $3 million more than <br />projected, $2 million will be budgeted as a Transfer to the Capital Improvement Program <br />Fund and $1 million will be budgeted in the Contingency Fund. <br /> <br />ATTACHMENTS: <br /> <br />. <br /> <br />Ordinance <br /> <br />Agenda Item <br /> <br />qB <br />I-lq-l~ <br /> <br />Date <br />http://sibagenda.si bfl, net/agenda/Preview. aspx?I temID=6 84&MeetiJ <br />