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Home My WebLink AboutO-2003-009 Reclassify the Stormwater Utility fund ORDINANCE NO. 2003-009 AN ORDINANCE OF THE CITY OF DANIA BEACH, FLORIDA, AMENDING SECTION 27-22 OF THE CODE OF ORDINANCES OF THE CITY OF DANIA BEACH, TO RECLASSIFY FROM AN ACCOUNTING PERSPECTIVE THE STORMWATER UTILITY FUND FROM A SPECIAL REVENUE FUND TO AN ENTERPRISE FUND IN COMPLIANCE WITH GASB (GOVERNMENTAL ACCOUNTING STANDARD BOARD) STATEMENT 34, PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; FURTHER, PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, in 1996 the City established a stormwater utility fund to assess stormwater fees to fund for the costs for providing stormwater management services; and WHEREAS, the City Commission has specified that such fund be established as a special revenue fund; and WHEREAS, the Governmental Accounting Standard Board has issued Statement 34 which provided the definition of Enterprise Fund; and WHEREAS, the definition indicated that "Laws or regulations required that the activity's costs of providing services, including capital costs, be recovered with fees and charges, rather than taxes or similar revenues, be classified as Enterprise Fund; and WHEREAS, the City of Dania Beach is required to implement GASB 34 in FY 2003; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF DANIA BEACH, FLORIDA: 1 ORDINANCE NO.: 2003 - 009 ® Section 1. That Section 27-22 of the City Code of Ordinances is amended to read as follows: Section 27-222. Stormwater Utility Fund. The City Commission intends to fund the cost of providing stormwater management services through stormwater assessments. The City Commission has further determined that periodic determination of revenues earned and expenses incurred in connection with the provision of stormwater management services will enhance accountability and management control of the City's stormwater management program and will facilitate implementation of the City Commission's funding policy for stormwater management. Accordingly, there shall be established a stormwater utility fund. From an accounting perspective, the stormwater utility fund shall be established ® as a speGial revenue fund an enterprise fund. Section 2. All ordinances or parts of ordinances in conflict with the provisions of this ordinance are repealed. Section 3. This ordinance shall take effect immediately at the time of its passage. PASSED AND ADOPTED on first reading on February 25, 2003. PASSED AND ADOPTED on second reading on March 12, 2003. ATTEST: ROB RT H. CHUNK, JR. CLAJJM(�k� MAY R— COMMISSIONER CHARLENE JO SON CITY CLERK 2 ORDINANCE NO.: 2003 - 009 ROLL CALL: COMMISSIONER BERTINO -YES COMMISSIONER MCELYEA - YES COMMISSIONER MIKES -YES VICE-MAYOR FLURY - YES MAYOR CHUNN - YES APPROVED AS TO F RM AND CORRECTNESS: BY: , /M �A TH'OMA J. A SB O CITY A TORNEY 3 ORDINANCE NO.: 2003 - 009 Agenda Request Form City of Dania Beach Agenda Item: Date of Commission meeting: 2/25/2003 Description of Agenda Item: Amend Sec. 27-222 Stormwater Utility Fund Commission action being requested: Adopt Resolution or Ordinance ® Expenditure_,.❑ Award BID/RFP ❑ Presentation ❑ General approval of item ❑ Continued from meeting Summary a planation and background r In 1996 the Stormwater Utility Fund was established with the intend to levy an assessment to fund the cost of providing stormwater management services. The ordinance established that this fund be ® established as a special revenue fund. With the accounting changes of GASB 34, the City is required to establish this fund as an enterprise fund. Att hied exhibits,and a iditional backup` mar (Please list): Staff memo, GASB 34 definition of enterprise fund and ordinance. For purchasing requests ONLY Department: Amount: Fund: General: ❑ Water: ❑ Sewer: ❑ Stormwater: ❑ Grants: ❑ Capital: ❑ Account Name: Account Number: Submitted by: Patricia Varney Date: 2/18/2003 Department Director. Date: Admin. Services Director: Date: Finance Director.• Patricia Varney Date: 2/18/2003 City Manager: IPato Date: 2/18/2003 CITY OF DANIA BEACH DEPARTMENT OF FINANCE ® MEMORANDUM TO: Ivan Pato, City Manager Memo: DF-03-016 FROM: Patricia Varney, Director of Finance DATE: February 18, 2003 SUBJECT: Stormwater Utility Fund Issue To reclassify Stormwater Utility Fund from a Special Revenue Fund to an Enterprise Fund. Explanation In 1996, the City established the stormwater utility fund as a special revenue fund with the intend to levy stormwater assessment fees to fund for the cost of providing stormwater management services. ® The City of Dania Beach is required to implement the new accounting standards GASB (Governmental Accounting Standards Board) Statement 34 in FY 2003. Enterprise Fund defined under GASB 34 indicated that"Laws or regulations require that the activity's costs of providing serices, including capital, be recovered with fees and charges, rather than with taxes or similar revenues." Recommendation Staff is recommending to amend Section 27-222 of the City of Dania Beach's Code of Ordinance to comply with the requirements of GASB 34. • 67. Enterprise funds may be used to report any activity for which a fee is charged to external users for goods or services. Activities are required to be reported as enterprise funds if any one of the following criteria is met. Governments should apply each of these criteria in the context of the activity's principal revenue sources.3 3(1) a. The activity is financed with debt that is secured solely by a pledge of the net revenues from fees and charges of the activity. Debt that is secured by a pledge of net revenues from fees and charges and the full faith and credit of a related primary government or component unit—even if that government is not expected to make any payments—is not payable solely from fees and charges of the activity. (Some debt may be secured, in part,by a portion of its own proceeds but should be considered as payable "solely" from the revenues of the activity.) b. Laws or regulations require that the activity's costs of providing services, including capital costs (such as depreciation or debt service), be recovered with fees and charges, rather than with taxes or similar revenues.34(2) ® c. The pricing policies of the activity establish fees and charges designed to recover its costs, including capital costs (such as depreciation or debt service). Copyright 2002 Governmental Accounting Standards Board 1 SUN- SENTINEL PUBLISHED DAILY FORT LAUDERDALE, BROWARD COUNTY, FLORIDA BOCA RATON, PALM BEACH COUNTY, FLORIDA • MIAMI, MIAMI DADE COUNTY, FLORIDA NOTICE OF HEARING BEFORE CITY = , COMMISSION CITY,OF:BEACH, FLORIDA` STATE OF FLORIDA IREGARDIING ADOPTION OF COUNTY OF BROWARD/PALM BEACH/MIAMI DADE THE FOLLOWING r:; PROPOSED ORDINANCE: i BEFORFTHE_UNDERS19NED AUTHORITY, PERSONALLY APPEARED NOTICE IS HEREBY GIVEN that the City Commission of the City of Dania Beach, WHO,ON OATH,SAYS THAT Florida, on March;, :12; HE IS A DUL AUTHORIZE REP !s ESENTATIVE OF THE CLASSIFIED soon thereafoon, at eaf_te r or.as r as he DEPARTMENT OF THE SUN-SENTINEL,DAILY NEWSPAPER PUBLISHED matter maybe heard,. III IN BROWARD/PALM BEACH/MIAMI DADE COUNTY,FLORIDA, AND THAT THE in he cit aty ommission ATTACHED COPY OF ADVERTISEMENT,BEING A: Chambers City Haut ioo wesi Dania Beach Boulevard,' AMENDING SECTION 2722 Dania Beach, Florida:,to consider the proposed adoption of.the following Ordinance entitled: _ ... IN THE MATTER OF: AN ORDINANCE OF THE CITY OF DANIA BEACH, Amending Section 27 22 ION FLORIDA,27-22 OFT E CODE or ORDINANCES-.OF THE CITY-OF DANIA BEACH,TO IN THE CIRCUIT COURT,WAS PUBLISHED IN SAID NEWSPAPER IN THE RECLASSIFY FROM AN AC. COUNTING ISSUES OF: THE STORMWA ERPECTIVE UTILITY FUND FROM A SPECIAL REVENUE FUND TO AN EN. 11317195 2/28,1 ERPRISE FUND 1N COM- PLIANCE WITH GASB(GO- VERNMENTAL ACCOUNT.. AFFIANT FURTHER SAYS THAT THE SAID SUN-SENTINEL IS A NEWSPAPER ING' STANDARD BOARD) STATEMENT 34, PROVID- PUBLISHED IN SAID BROWARD/PALM BEACH/MIAMI DADE COUNTY, FLORIDA, ING FOR CONFLICTS;PRO- VIDING FOR SEVERABILI. AND THAT THE SAID NEWSPAPER HAS HERETOFORE BEEN CONTINUOUSLY TY; FURTHER, PROVIDING AN ® PUBLISHED IN SAID BROWARD/PALM BEACH/MIAMI DADE COUNTY, FLORIDA, FOR py EFFECTIVE DATE., EACH DAY,AND HAS BEEN ENTERED AS SECOND CLASS MATTER AT THE A c Ord inopy of this proposed ance is on file in the POST OFFICE IN FORT LAUDERDALE, IN SAID BROWARD COUNTY, FLORIDA, office of the City Clerk,' City Hall, 100 West Dania FOR A PERIOD OF ONE YEAR NEXT PRECEDING THE FIRST PUBLICATION OF Beach .Boulevard, Dania Beach, Florida, and may ATTACHED COPY OF ADVERTISEMENT;AND AFFIANT FURTHER SAYS THAT be inspected by the public HE/SHE HAS NEITHER PAID, NOR PROMISED,ANY PERSON, FIRM, OR during normal :working CORPORATION,ANY DISCOUNT,REBATE,COMMISSION,OR REFUND,FOR THE hours. Interested parties may ap- PURPOSE OF SECURING THIS ADVERTISEMENT FOR PUBLICATION IN SAID pear at the aforesaid meeting and be heard NEWSP ER. with respect to the pro- posed. Any person who decides to appeal any de- cision made by the City Commission with respect (SIGNATURE OF AF ANT) to any matter considered at this hearing will needa record of the proceedings SWORN TO AND SUBSCRIBED BEFORE ME and for such purpose may need to ensure that a ver- ON: 28-February-2003 A.D. batim record of the pro- ceedings is made, which j record includes.the testi- mony and evidence upon which the appeal is to be based. (SIGNATURE OF NOTARY PUBLI(5) in accordance with the American with Disabilities �f Act, persons needing as- d:">"Ga., Tara L Bezak sistance to participate in •o•••••�,• any of the proceedings MY COMMISSION# DD024939 EXPIRES should contact Charlene ;uly 20,2C05 Johnson, City Clerk, 100 >:°= West Dania Beach Boule- •••-`o?• 60NDED IpRU TROY FAIN INSURANCE.INC vard,Dania Beach,Florida (NAME OF NOTARY,TYPED, PRINTED, OR STAMPED) least (hour 924-3622 at 4 least 48 hourspnor;to the meeting. . / /s/Charlene Johnson, PERSONALLY KNOWN " OR civic,city clerk February 28,2003 PRODUCED IDENTIFICATION