Number
050573
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution transferring $800,000 from the 2005 Common Council Contingent Fund to the Worker’s Compensation Special Purpose Account.
Analysis
This resolution transfers $800,000 from the 2005 Common Council Contingent Fund to the Department of Employee Relations - Workers Compensation Special Purpose Account to cover a $800,000 shortfall created by higher-than-anticipated Worker’s Compensation Claims.
Body
Whereas, The Department of Employee Relations - Worker’s Compensation Special Purpose Account was funded in 2005 at $8,850,000; and
Whereas, The Employee Benefits Division and the Budget Office agree that the projected expenditures in 2005 for Worker’s Compensation and medical claims will be at least $9,764,491; and
Whereas, The Employee Benefits Division and the Budget Office agree that the projected revenue in 2005 for Worker’s Compensation and medical claims will be at least $122,000; and
Whereas, These expenditures are non-discretionary; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that an amount not to exceed $800,000 be transferred from the Common Council Contingent Fund (0001-9990-001-D001-006300-2005) to the Worker’s Compensation Special Purpose Account (612001-001-1654-1614-S176-2005); and, be it
Further Resolved, That the appropriate City officials are authorized and directed to take whatever steps are necessary to fulfill the intent of this resolution.
Requestor
DER - Employee Benefits
Drafter
DER
MB
9/20/05