Number
161691
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution relating to the expenditure of funds to be reimbursed by greater than anticipated revenue (Special Purpose Account - Wages Supplement Fund).
Analysis
The resolution authorizes supplemental appropriations necessary for the 2016 salary payments. The appropriations will be offset by revenue.
Body
Whereas, Section 304-91 of the Milwaukee Code of Ordinances establishes procedural guidelines related to the expenditure of funds to be reimbursed by greater than anticipated revenues; and
Whereas, the arbitration settlement with Local 215 required payment of half of the employee’s pension contribution by the employee rather than the City for 2015; and
Whereas, this employee’s pension contribution payment was received by the City as revenue and is needed to pay the pension payment wage offset; and
Whereas, The Comptroller has certified that greater than anticipated revenue from employee pension contribution payments in the amount of $573,136.40, pursuant to s. 304-91,
Pursuant to s. 304-91, I hereby certify that the money required for this is anticipated to be realized on or before December 31, 2016, and is to be expended for the purposes specific in this resolution.
_________________________________ _________
Comptroller Date
Now, therefore, be it;
Resolved, By the Common Council of the City of Milwaukee, that the Comptroller is hereby authorized and directed to increase appropriations in the amount of $573,136.40 in the 2016 Special Purpose Account - Wages Supplement Fund account ( 0001-2110-S174- 006000) and to increase the estimated revenues for the Employee’s Pension Contribution account (0001-2110-xxxx) by $573,136.40; and be it
Further Resolved, that the Special Purpose Account - Wages Supplement Fund is authorized to transfer these funds for cost associated with the arbitration settlement; and be it
Further Resolved, that the Comptroller is a...
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