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File #: 151573    Version:
Type: Resolution Status: Passed
File created: 2/9/2016 In control: COMMON COUNCIL
On agenda: Final action: 4/15/2016
Effective date:    
Title: Substitute resolution rescinding reserved commitments and appropriating remaining funds from the 2015 Common Council Contingent Fund for the purpose of closing the 2015 financial books due to unanticipated shortfalls in current year operating expenses.
Sponsors: THE CHAIR
Indexes: MUNICIPAL FINANCE
Attachments: 1. Cover Letter, 2. Fiscal Impact Statement, 3. Budget Reponse, 4. Hearing Notice List

Number

151573

Version

SUBSTITUTE 1

Reference

 

Sponsor

THE CHAIR

 

Title

Substitute resolution rescinding reserved commitments and appropriating remaining funds from the 2015 Common Council Contingent Fund for the purpose of closing the 2015 financial books due to unanticipated shortfalls in current year operating expenses.

 

Analysis

This resolution also authorizes the transfer from the 2015 Common Council Contingent Fund of up to $598,543.74   to various departments and account in order to close the 2015 financial books. 

 

Body

Whereas, To facilitate closing of year 2015 financial books, transfers from 2015 Common Contingent Fund are necessary; now therefore, be it

 

Resolved, By the Common Council of the City of Milwaukee that up to $500,000 from the 2015 Common Council Contingent Fund (0001-9990-C001-006300) (2015) be transferred to the Election Commission Equipment Account (0001-1700-R999-006800) (2015) if necessary; and, be it

 

Further Resolved, That up to $74,085.30 from the 2015 Common Council Contingent Fund (0001-9990-C001-006300) (2015) be transferred to the Department of Administration Operating Expenditures Account (0001-1510-R999-006300) (2015) if necessary;

 

Further Resolved, That up to $17,191.94 from the 2015 Common Council Contingent Fund (0001-9990-C001-006300) (2015) be transferred to the Mayor’s Office Operating Expenditures Account (0001-1110-R999-006300) (2015) if necessary; and, be it

 

Further Resolved, That up to $7,266.50 from the 2015 Common Council Contingent Fund (0001-9990-C001-006300) (2015) be transferred to the Collection Contract Special Purpose Account (0001-2210-S113-006300) (2015) if necessary.

 

Requestor

Drafter

Eric Pearson/DOA-Budget and Management Division

Contfnd/2015/2015CFcloseoutresolution

4/4/16