Ordinance 28-2011 Budget ORDINANCE NO. 2 8-2011
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF
PALM BEACH, PALM BEACH COUNTY, FLORIDA, PROVIDING
FOR AN AMENDMENT TO THE TOWN'S BUDGETS ADOPTED
FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2010,
PROVIDING AN EFFECTIVE DATE.
WHEREAS, it was necessary for the Town of Palm Beach to adopt budgets for the fiscal
year commencing October 1, 2010; and
WHEREAS, the Town Council of the Town of Palm Beach, Florida, deems it necessary
and appropriate to amend said budgets to provide appropriations adequate for the authorization
of expenditures necessary for conducting Town operations for the fiscal year ending September
30, 2011; and
WHEREAS, the budget amendment is necessary to fund unanticipated costs associated
with the Self Insurance Fund - Health; and
WHEREAS, the Town Council must take action to put in place an ordinance to amend
the budget.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF PALM BEACH, PALM BEACH COUNTY, FLORIDA, AS FOLLOWS:
Section 1. The foregoing recitals are herby ratified and confirmed.
Section 2. The Town of Palm Beach Self Insurance Fund — Health Budget for the fiscal
year commencing October 1, 2010, is hereby amended and adopted pursuant to the
attached Exhibit "A ", attached hereto and made a part of this ordinance.
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Ordinnnre Nn. 29-11
Section 3. Effective Date. This ordinance shall take effect immediately upon
passage and approval as provided by law.
PASSED AND ADOPTED in a regular, adjourned session of the Town Council of the Town of
Palm Beach on first reading this 1 lth day of October, 2011, and for second and final reading on
this 8th day of November, 2011.
V
CoWlio, Mayor David A. Rosow, Town Council President
I �
- i Ro ert N . cil Presid o Tern
William J. amon , Town ouncil Member
ATTEST RichaRM. Kleid, Town Council Member
Susan A. ens, own Clerk Michae J. �ual`o, T wn P Council Member
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(lrrlinonnn Nn 9R_11
Exhibit A
Town of Palm Beach, Florida
Self Insurance Fund m Health
Budget Amendment
October 1, 2010 ® September 30, 2011
Adopted Amended
Budget Budget
FY2011 Change FY2011
Revenues
Town and Employee Contributions 4,364,300 0 4,364,300
Interest on Investments 25,300 0 25,300
Total Revenues 4,389,600 0 4,389,600
Expenditures
Salaries and Wages 38,700 38,700
Employee Benefits 4,310,500 200,000 4,510,500
Contractual 36,000 36,000
Commodities 4,400 4,400
Other (Contingency) 500,000 500,000
Total Expenditures 4,889,600 200,000 5,089,600
Total Revenues Over /(Under) Expenses (500,000) (200,000) (700,000)
i
Beginning Net Assets 2,214,794 2,214,794
Ending Net Assets 1,714,794 1,514,794