Number
161234
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
A substitute ordinance relating to contributions received by the city.
Sections
304-24-6 am
Analysis
With respect to contributions received by the city, this ordinance provides that the city comptroller may carry over unexpended funds in each special contribution account until all funds are expended. The carryover of unexpended funds shall continue until all funds are expended or the administering city department or agency responsible for the contribution account requests that any remaining unexpended funds not be carried over. The administering city department or agency shall notify the city comptroller if a carryover is not required. Unexpended funds not carried over shall revert to the tax stabilization fund.
Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 304-24-6 of the code is amended to read:
304-24. Contributions Received by the City.
6. CARRYOVER. >>The city comptroller may carry over unexpended funds in each special contribution account until all funds are expended.<< [[The year-end balance in each special contribution account that has not yet been fully expended shall revert to the tax stabilization fund unless the balance is appropriated to a department and carried forward to the next budget year.]] The [[carrying over]] >>carryover<< of unexpended funds [[in a department budget shall be limited to 3 years from the year in which the funds were appropriated from the contribution fund]] >>shall continue until all funds are expended or the administering city department or agency responsible for the contribution account requests that any remaining unexpended funds not be carried over<<. The administering city department or agency [[is responsible for notifying]] >>shall notify<< the city comptroller if a carryover of funds is >>not<< required. >>Unexpended funds not carried over shall revert to the tax stabilizat...
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