Number
070987
Version
Reference
Sponsor
THE CHAIR
Title
Resolution relating to the expenditure of funds to be reimbursed by greater than anticipated revenue.
Analysis
The resolution authorizes supplemental appropriations necessary for razing activities by the Department of Neighborhood Services. The appropriations will be offset by revenue.
Body
Whereas, Section 304-91 of the Milwaukee Code of Ordinances establishes procedural guidelines related to the expenditure of funds to be reimbursed by greater than anticipated revenues; and
Whereas, The Department of Neighborhood Services razes buildings for a variety of reasons, including ensuring public safety and supporting economic development efforts; and
Whereas, The costs of razing are charged to owners of the properties that are razed and are recovered by the city through payments by property owners, including by charges added to the tax roll; and
Whereas, The anticipated razing revenue to be received from planned razing in the 2007 fiscal year will be $1,095,000, which is $120,000 higher than the estimate for razing revenue included in the adopted 2007 city budget ($975,000); and
Whereas, The Comptroller has certified that greater than anticipated revenue from razing in the amount of $120,000, pursuant to s. 304-91,
Pursuant to s. 304-91, I hereby certify that the money required for this to be realized on or before December 31, 2007, and is to be expended only for the purposes specific in this resolution.
_________________________________ _________
Comptroller Date
; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Comptroller is hereby authorized and directed to increase appropriations in the amount of $120,000 in the Special Purpose Account Razing and Vacant Building Protection Fund (0001-3600-0001-S162-006300) and to increase the estimated revenues for the Building Razing revenue account (0001-3600-0001-941061) by $120,000; and, be it
Further Resolved, That the Department of Neighborhood Services is authorized to expend these funds for payment of razing costs; and, be it
Further Resolved, That the Comptroller is authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.
Requestor
Drafter
Budget and Management Division
Ref: 07013;EP
October 18, 2007
FINANCE:reimb greater than anticipated razing 2007