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File #: 211004    Version: 0
Type: Resolution Status: Passed
File created: 11/2/2021 In control: COMMON COUNCIL
On agenda: Final action: 11/23/2021
Effective date:    
Title: Resolution relating to expenditure of funds to be reimbursed by greater than anticipated revenue (Port of Milwaukee).
Sponsors: THE CHAIR
Indexes: PORT OF MILWAUKEE, REVENUE
Attachments: 1. Hearing Notice List

Number

211004

Version

SUBSTITUTE

Reference

 

Sponsor

The Chair

 

Title

Resolution relating to expenditure of funds to be reimbursed by greater than anticipated revenue (Port of Milwaukee).

Analysis

 

Body

Whereas, Section 304-91 of the Milwaukee Code of Ordinances establishes procedural guidelines related to the expenditure of funds to be reimbursed by greater than anticipated revenues; and

 

Whereas, the Port of Milwaukee received funds for reimbursement that had been pre-payed by the Port of Milwaukee for contractor work on an on-going infrastructure project; and

 

Whereas, greater than anticipated revenue in the amount of $43,900 will exceed budgeted revenue in 2021; and

 

Whereas, The City Comptroller has certified greater than anticipated revenue in the amount of $43,900, pursuant to s. 304-91,

 

Pursuant to s. 304-91, I hereby certify that the money required for this is anticipated to be realized on or before December 31, 2021 and to be expended only for the purpose in this resolution.

 

__________________________________                      _______________

Comptroller                                                                              Date

 

; now, therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee, that the Comptroller is authorized to increase appropriations in the amount of $43,900 in the Port of Milwaukee 2021 Operating account 0480-4280-R422-006300 and to increase the 2021 Estimated Revenue account (0480-4280-941564) by $43,900; and, be it

 

Further Resolved, That the Comptroller is authorized and directed to establish the necessary accounts and accounting procedures to carry out the intent of this resolution.

 

Requestor

DOA-Budget and Management Division

Drafter

ML:cei

October 14, 2021

I:\Finance\Resolutions\2021\Greater than anticipated revenue Port - 2021