Bill Type and Number: Ordinance 2007-463

Sponsor: Council President at the Request of the Mayor

Date of Introduction: April 24, 2007

Committee(s) of Reference: F; TEUS

Date of Analysis: April 26, 2007

Type of Action: Appropriation

Bill Summary: This bill appropriates $831,321.63 from Federal Emergency Management Agency (FEMA) reimbursement monies to fund the required contribution of $340,000 to the Florida Retirement System for past Civil Service Board members, placing the residual amount of $491,321.63 in a Contingency-Council Discretionary Accounts Administrative Expense account.

Background Information: The Florida Retirement System contribution is being made in accordance with the settlement reached with the State of Florida. The remaining funds are being placed so that the administrative expenses for design, engineering, and oversight by the Public Works Dept. and the Dept. of Parks, Recreation, Entertainment, and Conservation that are charged to Council Member projects primarily funded from bonds may be applied to this account.

Policy Impact Area: Pensions and Retirement; Council Discretionary Bond Projects; Emergency Management

Fiscal Impact: $831,321.63 is appropriated by this ordinance

Analyst: Campbell