Number
171757
Version
SUBSTITUTE 1
Reference
Sponsor
THE CHAIR
Title
Substitute resolution rescinding reserved commitments and appropriating remaining funds from the 2017 Common Council Contingent Fund for the purpose of closing the 2017 financial books due to unanticipated shortfalls in current year operating expenses.
Analysis
This resolution also authorizes the transfer from the 2017 Common Council Contingent Fund of up $728,014 to various departments and account in order to close the 2017 financial books.
Body
Whereas, To facilitate closing of year 2017 financial books, transfers from 2017 Common Contingent Fund are necessary; now therefore, be it
Resolved, By the Common Council of the City of Milwaukee that up to $169,271 from the 2017 Common Council Contingent Fund (0001-9990-C001-006300) (2017) be transferred to the Department of Public Works Operations Division Salaries and Wages Account (0001-5450-R999-006000) (2017) if necessary; and, be it
Further Resolved, That up to $193,034 from the 2017 Common Council Contingent Fund (0001-9990-C001-006300) (2017) be transferred to the Department of Public Works Operations Division Operating Expenditures Account (0001-5450-R999-006300) (2017) if necessary; and, be it
Further Resolved, That up to $327,679 from the 2017 Common Council Contingent Fund (0001-9990-C001-006300) (2017) be transferred to the Social Security Tax Account (0001-2110-R453-006100) (2017) if necessary; and, be it
Further Resolved, That up to $38,030 from the 2017 Common Council Contingent Fund (0001-9990-C001-006300) (2017) be transferred to the Group Life Insurance Premium Special Purpose Account (0001-4500-S139-006100) (2017), if necessary.
Requestor
DOA-Budget and Management Division
Drafter
EP
Reference
17007
April 5, 2018
I:\CONTFUND\2017\yr end closeout\171757res