HomeMy WebLinkAboutR2007-67 Budget Amendment General Employees Pension Plan•
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RESOLUTION 2007-67
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE
OF NORTH PALM BEACH, FLORIDA, AUTHORIZING AND
DIRECTING THE MAYOR AND VILLAGE CLERK TO AMEND THE
2006-07 BUDGET FOR THE PURPOSE OF TRANSFERRING
$113,586.00 FROM THE UNAPPROPRIATED, UNDESIGNATED
FUND BALANCE TO THE INDIVIDUAL DEPARTMENT PENSION
ACCOUNTS TO CORRECT AN UNDER FUNDING OF THE
GENERAL EMPLOYEES PENSION PLAN; PROVIDING FOR
CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, as noted in the Comprehensive Annual Financial Report prepared by the
Village Auditor for the 2005-2006 fiscal year, the Village under funded the General
Employees Pension Plan by $113,586.00 due to a calculation error in arriving at the
employer portion of the cost; and
WHEREAS, the Village Council seeks to transfer money from the Unappropriated,
Undesignated Fund Balance to the individual department pension accounts to fund the
Village's obligation to the General Employees Pension Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH
PALM BEACH, FLORIDA, as follows:
Section 1. The foregoing recitals are ratified as true and incorporated herein.
Section 2. The Village Council of the Village of North Palm Beach, Florida, does
hereby approve the budget amendment for transfer of amounts listed below:
Account
General Fund:
A4600-09100
A4902-12210
A4904-12210
A5003-12210
A5004-12210
A5005-12210
A 5206 1 ' i n
A5519-12210
j A5522-12210
1 A5711-12210
A5812-12210
A6018-12210
A6019-12210
Description I Use Source
Appropriated Fund Balance $ 113,586
Village Manager-G/E Pension
Village Clerk-G/E Pension
Finance-G/E Pension
Info Technology-G/E Pension
Human Resources-G/E Pension
Planning-r Pension
Facilities-G/E Pension
Vehicle Maint.-G/E Pension
Police-G/E Pension
Fire-G/E Pension
Public Works-G/E Pension
Building-G/E Pension
$ 1,485
3,567
5,264
2,144
1,910 j
1 c4nl
5,123
4,178
11,810
1,948
2,885
3,391
A6020-12210
A7020-12210
A7321-12210
A7927-12210
A8023-12210
A8028-12210
A8051-12210
L8045-12210
L8046-12210
L8059-12210
Total
Code-G/E Pension
Sanitation-G/E Pension
Street Maint-G/E Pension
Library-G/E Pension
Parks Maint-G/E Pension
Recreation-G/E Pension
Pool-G/E Pension
Golf Course Maint-G/E Pension
Golf Shop-G/E Pension
Clubhouse Grounds-G/E Pension
1,416
17,329
11,569
6,034
9,524
8,240
1,077
11,060
964
1,108
$ 113,856 $ 113,856
Section 3. The Mayor and Village Clerk are hereby authorized and directed to
execute the budget amendment for and on behalf of the Village of North Palm Beach.
Section 5. All resolutions or parts of resolutions in conflict herewith are hereby
repealed to the extent of such conflict.
Section 5. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED THIS 14th DAY OF JUNE, 2007.
aJ ;(Village Seal)-"!
£AtTES,'T:
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VILLAGE CLERK