Number
241095
Version
SUBSITUTE 1
Reference
Sponsor
ALD. JACKSON
Title
Substitute resolution reserving and appropriating up to $3,437,048 from the 2024 Common Council Contingent Fund to the 2024 Damages and Claims Fund Special Purpose Account.
Analysis
This resolution reserves and appropriates $3,437,048 from the 2024 Common Council Contingent Fund to the Damages and Claims Fund Special Purpose Account for the purpose of meeting financial obligations related to claims and litigation brought against the City.
Body
Whereas, Settlements and payment of judgments to date in 2024 exceed the 2024 appropriation for the Damages and Claims Fund Special Purpose Account (SPA); and
Whereas, Settlements will require $3,437,048 and the City Attorney anticipates that additional funds will be necessary to meet the City’s financial obligations imposed by pending settlements; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that up to $3,437,048 from the 2024 Common Council Contingent Fund (0001-9990-C001-006300) is reserved and appropriated to the 2024 Damages & Claims Fund (0001-1490-S118-006300); and be it
Further Resolved, That the City Comptroller and other appropriate City officials are directed to take all actions necessary to fulfill the intent of this resolution.
Requestor
DOA-Budget and Management Division
Drafter
Bryan Rynders
November 7, 2024
CONTFUND/2024/CA Damages and Claims-2024