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C. Budget Amendment - Required Funds to Buy into Florida <br />Retirement System, Building Department <br />The Board reviewed the following memo dated 2/7/84: <br />TO: Board of County Commissioners DATE: February 7, 1984 FILE: <br />SUBJECT: Required funds to buy into Florida <br />Retirement System - Building Department <br />FROM: Jeffrey K. Barton, REFERENCES: <br />Director OMB <br />Per your discussion at the October 19, 1983 meeting, we estimated a <br />$30,000.00-$35,000.00 shortage for buying into the retirement system. <br />We have now received the actual figures for the Florida Retirement <br />System and are $36,386.00 short of the funds received from the City <br />of Vero Beach. <br />The following budget amendment is to record the additional funds <br />received from the City of Vero Beach. <br />Account Title Account No. Increase Decrease <br />Cash Forward 441-000-38940.00 36,386 <br />Retirement 441-233-52412.12 36,386 <br />OMB Director Barton explained that at a previous <br />meeting the Board authorized the transfer of the Building <br />Dept.'s retirement funds from the City of Vero Beach <br />retirement plan over to the County's retirement system. It <br />was noted at that time that there would be an approximate <br />shortfall of $35,000. He reported that the actual figure.is <br />$36,386, which is above and beyond what the City has turned <br />over to us. The total buy -in amount figure is $88,298.81. <br />There was one employee who remained in the City's retirement <br />system due to his approaching retirement. <br />Commissioner Wodtke asked what happens to the <br />individual who has an $8,000 overage, and Director Barton <br />stated that amount belongs to him and will be used to buy <br />more time for him. <br />11 <br />FEB 15 1984 <br />BOOK H PAF 3 <br />