2003-07 ORDINANCE NO, 20034)7
AN ORDINANCE OF THE CITY COMMISSION OF THE
CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE
NO. 2002-24 WHICH ORDINANCE ADOPTED A BUDGET
FOR THE 2002~2003 FISCAL YEAR BY REVISING THE
2002/2003 FISCAL YEAR OPERATING AND CAPITAL
BUDGET AS OUTLINED IN EXHIBITS "A" ATTACHED
HERETO; AUTHORIZING THE CITY MANAGER TO DO
ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF
THIS OROINANCE; PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, upon the periodic review and analysis of current budgetary
commitments and obligations, and based upon the projected needs and requirements
of the City and upon the recommendations of the City Manager (and the concurrence of
the Finance Support Services Director as to Accounting Principles), it is deemed
necessary to adjust, amend and implement the 2002/2003 Operating and Capital
Budget as set forth in Exhibits "A" attached hereto and made a part hereof.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE
CITY OF AVENTURA, FLORIDA, AS FOLLOWS:
Section 1. The recitals contained in the preamble to this Ordinance are
incorporated by reference herein.
Section 2. The City Commission hereby authorizes the amendment of
Ordinance No. 2002-24, which Ordinance adopted a budget for the 2002/2003 fiscal
year, by revising the 2002~2003 budget as set forth on the attached Exhibits "A", which
exhibits are deemed incorporated by reference as though set forth in full herein.
Ordinance No. 2003-07
Page 2
Section3. The "FIFC Loan Debt Service Fund 290" and "FIFC Loan
Construction Fund 390" are hereby created as outlined in Exhibit "A".
Section 4. The City Manager is hereby authorized to do all things necessary to
carry out the aims of this Ordinance.
Section $. Effective Date. This Ordinance shall be effective immediately
upon adoption on second reading.
The foregoing Ordinance was offered by Vice Mayor Grossman, who moved its
adoption on first reading. This motion was seconded by Commissioner Diamond, and
upon being put to a vote, the vote was as follows:
Commissioner Zev Auerbach
Commissioner Jay R. Beskin
Commissioner Ken Cohen
Commissioner Bob Diamond
Commissioner Harry Holzberg
Vice Mayor Manny Grossman
Mayor Jeffrey M. Perlow
yes
yes
yes
yes
absent
yes
yes
The foregoing Ordinance was offered by Commissioner Holzberg, who
moved its adoption on second reading. This motion was seconded by Vice Mayor
Grossman and upon being put to a vote, the vote was as follows:
Commissioner Zev Auerbach
Commissioner Jay R. Beskin
Commissioner Ken Cohen
Commissioner Bob Diamond
Commissioner Harry Holzberg
Vice Mayor Manny Grossman
Mayor Jeffrey M. Pedow
yes
yes
yes
yes
yes
yes
yes
2
Ordinance No. 2003- 0__7
Page 3
PASSED AND ADOPTED on first reading this 6th day of May, 2003.
PASSED AND ADOPTED on second reading this 3~d day of June, 2003.
,~E~FF~E"~VI. PERLOW, MAYOR
ATTEST:
TF_~SA Mz,-5~OK~, CMC
APPROVED AS TO LEGAL SUFFICIENCY:
3
Exhibit "A"
CITY OF AVENTURA
CATEGORY SUMMARY
2002/'03
This fund was established to account for debt service payment expenditures associated witi~
Florida Intergovernmental Finance Commission Loan which was used to fund the construction!"-~
and equipment for of the Aventura Charter Elementary School.
REVENUE PROJECTIONS
310000/319999 Locally Levied Taxes
320000~329999 Licenses & Permits
330000/339999 Intergovernmental Rev.
340000/"~9999 Charges for Services
350000/359999 Fines & Forfeitures
360000/369999 Misc. Revenues
380000/389999 Transfer from Funds
399900/399999 Fund Balance
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 440,000 440,000
0 0 0 0 0
EXPENDITURES
1000/2999 Personal Services 0 0 0 0 0
3000/3999 Contractual Services 0 0 0 0 0
4000/4999 Other Charges/Svcs 0 0 0 0 0
$000/5399 Commodities 0 0 0 0 0
5400/3999 Other Operating Exp. 0 0 0 0 0
600016999 Capital Outlay 0 0 0 0 0
1000/7999 Debt Service 0 0 0 440,000 440,000
sooo/ssss Transfers 0 0 0 0 0
Page I
Exhibit "A"
CITY OF AVENTURA
2002/03
REVENUE PROJECTIONS
CODE-, OR¥~ ; EVENU NU
3611000 Interest on Investments $ $ $ $ $
Transfer From Charter School Fund $ $
3999000 Carryover 0 0 0 0 0
3842000 Bond Proceeds 0 0 0 440,000 440,000
EXPENDITURES
Non-Departmental - 690
7130 Principal
7230 Interest 0 0 0 440,000 440,000
TOTAL EXPENDITURES
3842000
Bond Proceeds - A portion of the loan poceeds will be used to fund the debt serice
costs for the first year. In future years the Charter School Fund will fund the debt
service costs.
7230 Interest - Interest payments due on the loan.
Page 2
Exhibit "A"
CITY OF AVENTURA
CATEGORY SUMMARY
2002/03
s fund was estabhshed to account for loan proceeds and expenditures associated with the}
Florida Intergovernmental Finance Commission Loan which was used to fund the constructionJ
land equipment for of the Aventura Charter Elementary School I
REVENUE P~OJECTIONS
310000/319999 Locally Levied Taxes
320000t329999 Licenses & Permits
330000/339999 Intergovernmental Rev.
340000/34~999 Charges for Services
360000/369999 Fines & Forfeitures
360000/369999 Misc, Revenues
390000/389999 Transfer/Debt Proceeds
399900/399999 Fund Balance
$ $
S $ $
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
O 0 0 6,660,000 6,S$0,000
0 0 0 0 0
EXPENDITURES
1000/3999 PGFs~ual Sewices 0 0 0 0 0
3000~3999 Contractual Sewices 0 0 0 0 0
~1~99 ~her Charges/Svcs 0 0 0 0 0
5000/5399 . Commodities 0 0 0 0 0
~00/5999 ~her Operating Expense 0 0 0 0 0
600016999 Capital Outlay 0 0 0 6,000,000 6,000,000
7000/7999 Debt Service 0 0 0 0 0
9000/9999 Transfers 0 0 0 660,000 560,000
Page 3
Exhibit "A"
CITY OF AVENTURA
2002J03
REVENUE PROJECTIONS
3611000 Interest on Investments $ $ $ $ $
3999000 Carryover
3842000 Bond Proceeds 6,050,000 6,550,000
EXPENDITURES 9001
, 1999~~0~~ , 2000/ ,
Non-Deoartmenta1-6010-~69
6307 Char~er School Construction $ $ $ 6,526,000 6,626,000
6401 Computer Equipment 105,000 185,000
6410 Equipment 290,000 290,000
0194 Transfer to Debt Service 290 440,000 440,000
Transfer to Charter School Fund. 110,000 110,000
TOTAL EXPENDITURES
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