Number
040221
Version
SUBSTITUTE 2
Reference
980965
Sponsor
THE CHAIR
Title
Substitute resolution related to expenditure of funds to be reimbursed by greater than anticipated revenue (Department of Public Works and Port of Milwaukee).
Analysis
This resolution authorizes the Department of Public Works and the Port of Milwaukee to make 2004 capital expenditures in anticipation of additional grant fund reimbursements for the Capital Improvements Grantor Share-Non-City Cash Account, No. 0306-9990-R999-SP032040100. This authorization will allow City participation in various projects, including but not limited to the Marquette Interchange, Canal Street, Congestion and Air Quality Mitigation (CMAQ) grants, transportation enhancement grants, and State and Federally aided highway projects, over and above what was initially anticipated during formulation of the 2004 Capital budget. Such capital expenditures would be made only for projects authorized by the Common Council and only to the extent grant reimbursement is in fact available.
Body
Whereas, Common Council File 980965 established procedural guidelines related to the expenditure of funds to be reimbursed by greater than anticipated revenues; and
Whereas, The Capital Improvements City-Wide Grantor Share Non-City Cash Account, No. 0306-9990-R999-SP032040100, was funded in the amount of $10,000,000 as a result of the 2004 Budget process; and
Whereas, This account provides funding on a temporary basis for projects which receive partial reimbursement through various State and/or Federal aid and grant programs, but require the City to front the project cost; and
Pursuant to s. 304-91, I hereby certify that the money required for this is anticipated to be realized on or before December 31, 2007 (Termination date of the four year funding authority established for these projects in the 2004 capital budget) and is to be expended only for the purposes in this resolution.
____________________________________ ______________________
Comptroller Date
; and
Whereas, The City's participation in the list of potential grantor share needs through 2004, a copy of which is attached to and incorporated in this resolution by reference as though set forth in full, has resulted in a need for additional funds; and
Whereas, The Department of Public Works and the Port of Milwaukee requires the additional $15,600,000 funding for capital infrastructure Grant & Aid projects before seeking Common Council approval to undertake these projects; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that $15,600,000 is appropriated to the Capital Improvements City-Wide Grantor Share-Non-City Cash account No. 0306-9990-R999-SP032040100; and, be it
Further Resolved, That the City Comptroller be, and hereby is, authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.
Requestor
Department of Public Works
Drafter
Infrastructure Services Division
JJM:dr
June 29, 2004
040221