Number
011615
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. GORDON
Title
Substitute resolution relating to the 2002 Capital Improvements Budget.
Analysis
Due to the uncertain future of the City of Milwaukee's state shared revenue under the state budget bill currently under consideration, this resolution suspends expenditures for certain projects in the City's 2002 Capital Improvements Budget. The projects would be deferred until further action is taken by the Finance and Personnel Committee and the Common Council in June, 2002, after the state budget bill is approved by the legislature and signed by the Governor.
Body
Whereas, Governor Scott McCallum's Proposed 2002 State Budget included a provision which would eliminate state shared revenue to Wisconsin municipalities over a 3-year period; and
Whereas, The shared revenue and expenditure restraint programs represent 46% of Milwaukee's available revenue to support general city operations; and
Whereas, Under the Governor's proposal, the City of Milwaukee would lose $23 million in state shared revenue in 2002, and by 2004, $248 million, or 100% of the program would be eliminated; and
Whereas, While the Senate voted April 5, 2002 to restore shared revenue to current funding levels, leadership from both houses must meet in a joint conference committee to negotiate a final bill; the compromise version must be put to vote in both houses, and then sent to the Governor for signing; and before signing, the Governor can use his significant line-item veto authority to modify the bill; and
Whereas, Until the budget bill is finalized by the state legislature and approved by the Governor, the City of Milwaukee's state shared revenue is in limbo; and
Whereas, Until the state shared revenue issue is resolved, it is in the best fiscal interest of the City of Milwaukee and its residents to defer certain 2002 Capital Improvement expenditures; now, therefore, be it
Resolved, By the Co...
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