Number
001288
Version
Substitute 1
Reference
Sponsor
THE CHAIR
Title
A substitute resolution appropriating funds from the 2000 Common Council Contingent Fund for the purpose of closing the 2000 financial books due to unanticipated shortfalls in current year operating expenses.
Analysis
This substitute resolution transfers remaining funds in the 2000 Common Council Contingent Fund to the Wages Supplement Fund, on an as needed basis, for unanticipated shortfalls. In addition, any funding not used in the Wages Supplement Fund is to be transferred to the Department of Public Works- Sanitation Division's Operating Expenditures account.
Body
Whereas, Year 2000 total appropriations for the Wages Supplement Fund was $29,936,915.75; and
Whereas, Salary settlements were higher than budgeted and additional funding is needed to close departments' Year 2000 salaries accounts; and
Whereas, Due to higher than average snowfall during December 2000, the Department of Public Works - Sanitation Division's operating expenditures have an anticipated shortfall of approximately $3.7 million; and
Whereas, To facilitate closing of Year 2000 financial books, transfers from 2000 Common Council Contingent Fund are necessary; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that the sum of $2,926,233 in the Common Council Contingent Fund (#0001-9990-C001-006300) (2000) be transferred to the Wages Supplement Fund (#0001-2110-S174-006300) (2000), on an as needed basis; and, be it
Further Resolved, Any funding not used for the Wages Supplement Fund be transferred to the Department of Public Works-Sanitation Division Operating Expenditures account (#0001-5650-R999-006300) (2000).
Requestor
DOA-Budget and Management Division
Drafter
Budget and Management Division
Ref: 01042; LDH
February 19,2001
FinancelResolutl00 1 288res.doc