Number
110770
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. MURPHY
Title
Substitute resolution relating to the deposit of $27 million in the Employer’s Reserve Fund by the City to the Employes’ Retirement System.
Body
Whereas, The 2012 adopted city budget contained funding for the Employer’s Reserve Fund in the Employes’ Retirement System and Parking Fund; and
Whereas, These funds are currently deposited in the city’s general fund Employer’s Reserve Fund account; and
Whereas, These funds need to be formally appropriated for deposit in the city’s account, Employer’s Reserve Fund, in the Employes’ Retirement System; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the sum of $25 million be appropriated from the city’s general fund account Employer’s Reserve Fund (0001-9990-R460-006100) and that the sum of $2 million be appropriated in the city’s Parking Fund Transfer to Pension Reserve Fund (0450-6610-R999-006900) and deposited to the city’s account, Employer’s Reserve Fund, in the Employes’ Retirement System.
Drafter
Budget and Management Division
Ref: 2012 BF,3B;
November 3, 2011
PensionreserverA.doc
November 7, 2011
Jim Carroll-LRB