Item O5County of Monroe BOARD OF COUNTY COMMISSIONERS
Mayor George Neugent, District 2
The Florida Keys Mayor Pro Tern David Rice, District 4
Danny L. Kolhage, District 1
00 Heather Carruthers, District 3
Sylvia J. Murphy, District 5
County Commission Meeting
April 12, 2017
Agenda Item Summary #2883
WALK ON DAY OF MEETING - IF APPROVED, WILL BE ADD ON 0-5
BULK ITEM: Yes DEPARTMENT: Emergency Services
TIME APPROXIMATE: STAFF CONTACT: Gary Boswell (305) 289 -6004
N/A
AGENDA ITEM WORDING: Approval of a LOSAP benefits lump sum payment to a vested
volunteer fire fighter.
ITEM BACKGROUND: Mr. Paul Altamuro is a Monroe County Volunteer firefighter. Mr.
Altamuro is vested in the County's LOSAP benefits program under Section 11- 226(c). Pursuant to
section 11- 226(d), Mr. Altamuro is entitled to a lump sum payment of the LOSAP benefit upon Mr.
Altamuro's request. Mr. Altamuro has made such a request and staff is therefore requesting approval
of a lump sum payment in the amount of $15,317.63 as shown in the below calculation.
Present Value Calculator
Future Value: $ 19,800.00
Years: 10
Discount Rate: 2.6 %
Present Value: $ 15,317.63
PREVIOUS RELEVANT BOCC ACTION: N/A
CONTRACT /AGREEMENT CHANGES:
N/A
STAFF RECOMMENDATION: Approval
DOCUMENTATION:
FINANCIAL IMPACT:
Effective Date: 4/12/17
Expiration Date:
Total Dollar Value of Contract: n/a
Total Cost to County: $15,317.63
Current Year Portion:
Budgeted: LOSAP funding
Source of Funds: 141 -11500
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing:
Grant:
County Match:
Insurance Required:
Additional Details:
If yes, amount:
04/12/17 141 -11500 • FIRE & RESCUE CENTRAL
REVIEWED BY:
James Callahan
Budget and Finance
Kathy Peters
Board of County Commissioners
Completed
Completed
Completed
Pending
$15,317.63
04/10/2017 9:56 AM
04/10/2017 10:23 AM
04/10/2017 10:25 AM
04/12/2017 9:00 AM