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File #: 071570    Version:
Type: Resolution Status: Passed
File created: 3/18/2008 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 4/9/2008
Effective date:    
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.
Sponsors: THE CHAIR
Indexes: CONTINGENT FUND
Attachments: 1. Hearing notice list, 2. Fiscal note, 3. Fiscal Analysis

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the following amounts reserved or appropriated in the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be rescinded for appropriation as follows: 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 (#0001-1510-R999-006000) (2007) if necessary; and, be it

 

Further Resolved, That up to $3.00 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Department of Employee Relations Account (#0001-1650-S172-006300) (2007) if necessary; and, be it

 

Further Resolved, That up to $197.00 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Department of Employee Relations Account (#0001-1650-R999-006300) (2007) if necessary; and, be it

 

Further Resolved, That up to $3,140.72 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Fire Department Account (#0001-3280-R999-006300) (2007) if necessary; and, be it

 

Further Resolved, That up to $1,278.25 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Police Department Account (#0001-3310-R999-006300) (2007) if necessary; and, be it

 

Further Resolved, That up to $500.00 from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Department of Public Works Infrastructure Division Account (#0001-5230-R999-006300) (2007) if necessary; and, be it

 

Further Resolved, That up to $440,675.46 and any other remaining funds from the Common Council Contingent Fund (#0001-9990-C001-006300) (2007) be transferred to the Department of Public Works Operations Division Account (#0001-5450-R999-006300) (2007) if necessary.

 

Requestor

Department of Administration

Budget and Management Division

Drafter

Ref: 07009 DS:dmr

April 2, 2008

Finance: 071570 - 2007 Closing SECOND RES FOR 04-04-08.rtf