NUMB:
970680
VERS:
SUBSTITUTE 1
REF:
XXBY:
TITL:
Substitute resolution clarifying the intent of the Common Council relative to Contingent Fund appropriations.
ANLS:
This is a procedural resolution, ordinarily adopted in conjunction with the adoption of the annual budget. Its intent is to assure the obligations incurred in the current year can be authorized from the current year's Contingent Fund in the event that such authorization can not be handled prior to the year end.
BODY:
Whereas, Storms and other unforeseen events may occur in December requiring the expenditures of city funds which may exhaust a department's appropriations for such purposes, necessitating a Contingent Fund appropriation; and
Whereas, In certain cases formal Common Council action appropriating an amount from the Contingent Fund cannot be completed during the year in which the obligation was incurred because of applicable legislative procedures; now, therefore be it
Resolved, By the Common Council of the City of Milwaukee, that it is the intent of the Common Council that funds may be appropriated from the 1997 Common Council Contingent Fund for obligations incurred in 1997, notwithstanding that such formal Common Council action is completed in 1998, but prior to the closing of the city's 1997 financial accounts.
DFTR:
Budget and Management Division
Ref: 1998 BF, 7-E:PMW:nme
October 30, 1997
FINANCE: BDGTSR/970680.doc