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File #: 971194    Version:
Type: Resolution Status: Passed
File created: 11/13/1997 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 2/10/1998
Effective date:    
Title: Substitute resolution authorizing carryover of certain fund balances from 1997 to 1998 in accordance with Section 65.07(1)(p), Wisconsin Statutes.
Sponsors: THE CHAIR
Indexes: BUDGET
Attachments: 1. 971194A0.XLS
Date Ver.Action ByActionResultTallyAction DetailsMeeting DetailsVideo
2/11/19981 MAYOR SIGNED   Action details Meeting details Not available
2/10/19981 COMMON COUNCIL ADOPTEDPass16:0 Action details Meeting details Not available
2/4/19981 CITY CLERK DRAFT SUBMITTED   Action details Meeting details Not available
2/4/19981 FINANCE & PERSONNEL COMMITTEE RECOMMENDED FOR ADOPTION

Minutes note: Ald. Murphy moved to amend Exhibit "A" to add $50,000 "Care of Prisoners - Comptroller". Ald. Schramm moved to add $139,937.30 "Home equity Guarantee - City Clerk"
Pass5:0 Action details Meeting details Not available
11/17/19970 FINANCE & PERSONNEL COMMITTEE REFERRED TO   Action details Meeting details Not available
11/13/19970 COMMON COUNCIL ASSIGNED TO   Action details Meeting details Not available
NUMB:
971194
VERS:
SUBSTITUE 1
REF:
 
XXBY:
 
TITL:
Substitute resolution authorizing carryover of certain fund balances from 1997 to 1998 in accordance with Section 65.07(1)(p), Wisconsin Statutes.
 
 
ANLS:
 
BODY
Whereas, It has been the practice of the Mayor and the Common Council of the City of Milwaukee to maintain as low a tax rate as is possible, consistent with the standard of services requested by the citizens of Milwaukee; and
 
Whereas, The authorization to carry over certain available fund balances to permit achieving or completing a previously authorized and funded purpose, program, project, or equipment purchase is in the best interests of the City and assists in reducing the amounts that must be levied on taxable property in the City of Milwaukee; and
 
Whereas, The Budget and Management Division and the Committee on Finance and Personnel have reviewed 1997-1998 carryover requests and recommend in this resolution those carryovers which appear to be in compliance with Section 65.07(1)(p), Wisconsin State Statutes, Capital Guidelines, Grant and Aid Guidelines, Community Development Agency Guidelines, and other prudent criteria; now, therefore, be it
 
Resolved, By the Common Council of the City of Milwaukee that it hereby authorizes and directs the City Comptroller to carry over the accounts enumerated in Exhibit A (attached to this file) in the amounts set forth in the recommended column; and, be it
 
Further Resolved, That the City Comptroller is hereby authorized and directed to close out each 1997 Capital Purpose Account not specifically authorized for carryover by this resolution or other appropriate resolution. Such close-outs shall be in accordance with the requirements of Common Council Resolution File Number 881665, et.al., Section V; and, be it
 
Further Resolved, That the departments affected by this resolution are hereby authorized to expend the carried over funds in accordance with the intent of the original appropriations; and, be it
 
Further Resolved, That each amount indicated for carryover for Special Ledger accounts is the maximum balance that can be carried over to 1997. Any balance over those amounts indicated are to revert to the Tax Stabilization Fund, in accordance with Section 304-29-3, Milwaukee Code of Ordinances; and, be it
 
Further Resolved, That Notwithstanding the above authorizations, that if the Comptroller, at the time of transferring this money to the succeeding years' appropriations determines that any of the above authorized funds exceeds that three-year carryover authorization, the Comptroller is hereby directed to close the funds in excess of the three-year authorization to the appropriate close-out account.
 
 
DFTR:
Budget and Management Division
Ref:98008;RUK:
January 29, 1998
FINANCE:971194r.doc