Fort Walton Beach Council agenda — 01-08-13--regular — reading text

V. b4 S56. IU TllpinFFa - E CY 2x' 16 Yma c Tom- 1444 3.3. FINANCIAL FINANCIAL INFORMATION:INFORMATION: 3.3. 1.1. TheThe proposed proposed feesfees areare commensuratecommensurate withwith thethe City'City' ss costcost ofof providingproviding solidsolid wastewaste andand recyclingrecycling services.services. 4.4. RECOMMENDATION:RECOMMENDATION: 4.4. 1. StaffStaff respectfullyrespectfully requestsrequests CityCity CouncilCouncil adoptionadoption ofof ResolutionResolution 20132013 - - 22 toto amendamend thethe ComprehensiveComprehensive FeeFee Schedule Schedule toto reflectreflect thethe newnew ratesrates includedincluded inin thethe newnew 1010- - yearyear contractcontract forfor SolidSolid WasteWaste DisposalDi, sposal, RecyclingRecycling andand TransferTransfer ServicesServices withwith AlliedAllied WasteWaste Services.Services. SIGNATURESIGNATURE BLOCK:BLOCK: Charlotte Charlotte DunworthDunworth Completed Completed 01/01/ 03/03/ 20132013 2:2: 2121 PMPM PacketPg.PacketPg. 4747  10. 1 RESOLUTION 2013 - 2 Tim Bolduc Completed 01/ 03/ 2013 4: 08 PM Skipped 01/ 03/ 2013 4: 41 PM City Attorney Carole Jones Completed 01/ 03/ 20134: 41 PM City Manager Completed 01/ 03/ 2013 4: 54 PM City Council Pending Packet Pg. 48  10.10. tt RESOLUTION 2013 - 2 A RESOLUTION OF THE CITY OF FORT WALTON BEACH, FLORIDA, AMENDING THE COMPREHENSIVE FEE SCHEDULE FOR ENGINEERING & UTILITY SERVICES DEPARTMENT FEES; AND PROVIDING AN EFFECTIVE DATE NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA THAT: Section I. Pursuant to the authority of section 10. 82. 01 Authority to Establish Rates, Charges, and section 10. 82. 02 Units, Bases Defined, of the City Code of Ordinances, the Comprehensive Fee Schedule is amended as follows: 111 AI) S34 W r luI, II Ill. Ill112 "l III 1 1 21 SectionSection II.II. ThisThis resolutionresolution shallshall taketake effecteffect uponupon adoptionadoption byby thethe CityCity CouncilCouncil andand signaturesignature byby thethe Mayor.Mayor. AdoptedAdopted MikeMike Anderson,Anderson, MayorMayor PacketPacket Pg.Pg. 4949  te.t RESOLUTION 2013 - 2 Attest: Approved for form and legal sufficiency: Helen Spencer, City Clerk Hayward Dykes, Jr., City Attorney Mike Anderson, Mayor Attest: Approved for form, legal sufficiency Helen Spencer, City Clerk Hayward Dykes, Jr, City Attorney Additions are underlined; d, .. t,..— . e- m,,-° n. Packet Pg. 50  12. 1 City Council ofFINANCE Fort Walton Beach MEMORANDUM To: Michael D. Beedie, City Manager From: Charlotte Dunworth, Budget and Grants Manager Date: January 8, 2013 Subject: 1875 - Investment Policy ( 2nd reading) 1. BACKGROUND: I. I. The City' s current investment policy was adopted via Resolution 04 -20 in August 2004. 1. 2. The investment policy is in need of revision due to changes in the investment environment since 2004. 2. DISCUSSION: 2. 1. Given today' s economic environment, it is critical to use every tool possible to maximize the City' s revenue sources, in accordance with safety and liquidity parameters set by Florida Statutes and the City' s investment policy. 2. 2. Since the proposed investment policy permits investments beyond those specifically authorized in the Florida Statutes, the investment policy must be adopted by ordinance rather than resolution. 2. 3. PFM Asset Management LLC ( PFM) and Morgan Stanley Smith Barney Consulting Group ( MSSB) have been retained to manage the City' s investments. 2.4. Comparison of investment returns achieved by PFM and MSSB to appropriate benchmarks will be used to determine the level of value both firms provide to the City. 2. 5. The following revisions have been made to the Investment Policy since first reading on December 11, 2012: 2. 5. 1. Beal Memorial Cemetery Perpetual Care funds have been excluded from Section 11. 2. 5. 2. The requirement for institutions conducting investment transactions to notify the City when their current audited financial statement becomes available has been removed from Section XVIL 2. 5. 3. The Acknowledgement form has been added as Attachment D. 2. 6. The following revisions have been made to Ordinance 1875 since first reading on December 11, 2012: 2. 6. 1. Beal Memorial Cemetery Perpetual Care funds have been added as an exception to Section 3. 3. RECOMMENDATION: Page 1 . D000 2126 Packet P' S1  12. 1 ORDINANCE ( ID # 2126) 3. 1. Staff respectfully recommends City Council adoption of Ordinance No. 1875 to update the City' s Investment Policy. ATTACHMENTS: Ordinance 1875 with Changes from Is-t Reading( DOCX) 12 - 11 - 12 FWB Investment Policy CC appv 1 - 8 - 13 ( DOCX) SIGNATURE BLOCK Charlotte Dunworth Completed 12/ 19/ 2012 9: 19 AM Finance Completed 12/ 21/ 2012 8: 43 AM City Attorney Completed 12/ 21/ 2012 9: 58 AM Carole Jones Completed 12/ 21/ 2012 10: 42 AM City Manager Completed 01/ 02/ 2013 8: 29 AM City Council Pending Packek Pg. 52  F- 1 2-1- 1 ORDINANCE ( ID # 2126) AN ORDINANCE OF THE CITY OF FORT WALTON BEACH, FLORIDA, PROVIDING FOR THE INVESTMENT POLICY OF SURPLUS FUNDS; AND PROVIDING AN EFFECTIVE DATE NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA AS FOLLOWS: SECTION 1. AUTHORITY & INTENT The authority for enactment of this ordinance is pursuant to Section 218. 415( 16)( h) of the Florida Statutes. SECTION 2. PURPOSE The purpose of the City' s Investment Policy is to set forth the investment objectives and parameters for the management of the funds of the City of Fort Walton Beach. The Investment Policy is designed to ensure the prudent management of public funds, the availability of operating and capital funds when needed, and an investment return competitive with comparable benchmarks and financial market indices. SECTION 3. APPLICABILITY The Investment Policy applies to all funds controlled by the City in excess of those required to meet current expenses, with the exception of pension funds, funds related to the issuance of debt where there are other existing policies or indentures in effect for such funds, and Beal Memorial Cemetery Perpetual Care funds. Additionally, any future revenues that have statutory investment requirements conflicting with the Investment Policy and funds held by state agencies are not subject to the provisions of the Investment Policy. SECTION 4. REPEAL This Ordinance repeals Resolution 04 -20 adopting the City' s previous Investment Policy. SECTION 5. EFFECTIVE DATE This Ordinance shall take effect immediately upon approval by the City Council. Mike Anderson, Mayor Attest: Approved for form, legal sufficiency Helen Spencer, City Clerk Hayward Dykes, Jr., City Attorney Additions are underlined; deletions aFe stricke . Packet Pg. 53  12. 1. a ORDINANCE 1975 23 AN ORDINANCE OF THE CITY OF FORT WALTON BEACH, 4 FLORIDA, PROVIDING FOR THE INVESTMENT POLICY OF SURPLUS FUNDS; AND PROVIDING AN EFFECTIVE DATE. 56 NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE 78 CITY OF FORT WALTON BEACH, FLORIDA AS FOLLOWS: 9 10 SECTION 1. AUTHORITY & INTENT The authority for enactment of this ordinance is pursuant to Section 218,41 5( 16)( h) of the 12 Florida Statutes. 1413 SECTION 2. PURPOSE The purpose of the City' s Investment Policy is to set roan the investment objectives and 1516 parameters for the management of the Ponds of the City of Fort Walton Beach. The Investment 17 Policy