Number
251445
Version
SUBSTITUTE 1
Reference
250001
Sponsor
ALD. COGGS, BURGELIS, DIMITRIJEVIC, MOORE, STAMPER, CHAMBERS, JACKSON AND WESTMORELAND
Title
Substitute resolution directing the Comptroller’s Office to develop a fund balance policy.
Analysis
This resolution directs the Comptroller’s Office to develop a policy regarding the maintenance of fund balances.
Body
Whereas, The City of Milwaukee maintains multiple distinct financial accounts (“funds”) with distinct purposes; and
Whereas, The City’s elected Comptroller monitors the status of the City’s financial accounts; and
Whereas, Decisions made by the City’s elected Comptroller may have an effect on the status of the City’s financial accounts; and
Whereas, There may exist guidelines and best practices for the maintenance of minimum balances in fund accounts; and
Whereas, The 2026 Budget was adopted by Common Council File Number 250001 on November 7, 2025; and
Whereas, Amendment 39 placed a footnote in the 2026 Budget directing the Comptroller’s Office to develop a policy regarding the maintenance of fund balances; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the Comptroller’s Office is directed to develop a policy that establishes minimum balances that shall be maintained in each of the City’s financial accounts; and, be it
Further Resolved, That the Comptroller’s Office shall present a proposed minimum fund balance policy to the Common Council within 30 days of adoption of this resolution.
Requestor
Drafter
LRB181233-2
Beka Bein
01/21/2026