Number
071570
Version
SUBSTITUTE I
Reference
070241, 071278
Sponsor
CHAIR
Title
Substitute resolution rescinding reserved commitments and appropriating funds from the 2007 Common Council Contingent Funds for the purpose of closing the 2007 financial books due to unanticipated shortfalls in current year operating expenses.
Analysis
To facilitate closing of Year 2007 financial books, rescinding previously reserved commitments and appropriations, and directing transfers from 2007 Common Contingent Fund are necessary due to accruals and salary adjustments in various departmental accounts. These accruals and adjustments occurred after the approval Common Council Contingent Fund file, 071278.
Body
Whereas, To facilitate closing of Year 2007 financial books, rescinding previously reserved commitments and appropriations, and directing transfers from 2007 Common Contingent Fund are necessary; now therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the following amounts reserved or appropriated in the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be rescinded for appropriation as follows:
1. From Common Council file 070241, $25,000 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) reserved for the Employee’s Retirement System General Purpose Account (#0001-4500-R999-00634001) (2007),
2. From Common Council file 071278, $1,082.55 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) appropriated for the Comptroller Account (#0001-2110-S163-006300) (2007);
3. From Common Council file 071278, $441,476.57 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) appropriated for the Department of Public Works Operations Division Account (#0001-5450-R999-006300) (2007); and, be it
Further Resolved, That up to $1,557.95 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Department of Administration account (#0001-151...
Click here for full text