Item Coversheet

Resolutions - C7  Q




COMMISSION MEMORANDUM

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.


RECOMMENDATION

See attached Memorandum
Legislative Tracking
Office of Management and Budget
Sponsor
Commissioner Samuelian

ATTACHMENTS:
Description
Memo-Amend General Fund Reserve Policy
Resolution