| TO: | Honorable Mayor and Members of the City Commission | | | FROM: | Jimmy L. Morales, City Manager | | | DATE: | September 11, 2019 | | | |
| | SUBJECT: | A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, ACCEPTING THE
RECOMMENDATION OF THE FINANCE AND CITYWIDE
PROJECTS COMMITTEE AT ITS JULY 26, 2019 MEETING, AND
AMENDING AND RESTATING RESOLUTION NO. 2006-26341,
WHICH ADOPTED THE CITY OF MIAMI BEACH FINANCIAL
POLICIES RELATING TO STABILIZATION FUNDS; FUND
BALANCE; CONTINGENCY PLANNING AND CASH
RESERVES; USE OF NON-RECURRING REVENUES; CAPITAL
ASSET ACQUISITION, MAINTENANCE, REPLACEMENT AND
RETIREMENT; AND GUIDING THE DESIGN OF PROGRAM AND
SERVICES, TO INCORPORATE REVISIONS TO THE
STABILIZATION FUNDS AND FUND BALANCE/CONTINGENCY
PLANNING AND CASH RESERVES POLICY (GENERAL FUND
RESERVE POLICY), AS SET FORTH IN THE ATTACHED
EXHIBIT A, WHICH SHALL REPLACE AND SUPERSEDE THE
GENERAL FUND RESERVE POLICY SET FORTH IN
RESOLUTION NO. 2006-26341, AND WHICH IS CONSISTENT
WITH THE RECOMMENDATION OF THE CITY'S BUDGET
ADVISORY COMMITTEE.
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