Number
020583
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution clarifying the intent of the Common Council relative to Contingent Fund appropriations.
Analysis
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 2003 Common Council Contingent Fund for obligations incurred in 2003, notwithstanding that such formal Common Council action is completed in 2003, but prior to the closing of the city's 2003 financial accounts.
Drafter
Budget and Management Division
Ref: 2003 BF, 7-E: KO:
November 5, 2002
Finance:Resolut/03Budget/020583R.doc