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File #: 211504    Version:
Type: Resolution Status: Passed
File created: 1/18/2022 In control: FINANCE & PERSONNEL COMMITTEE
On agenda: Final action: 5/10/2022
Effective date:    
Title: Substitute resolution authorizing carryover of certain fund balances from 2021 to 2022 in accordance with Section 65.07(1)(p), Wisconsin Statutes.
Sponsors: THE CHAIR
Indexes: BUDGET, MUNICIPAL FINANCE
Attachments: 1. Cover Letter, 2. Fiscal Impact Statement, 3. Exhibit A (2021 to 2022), 4. Budget Response, 5. Hearing Notice List
Number
211504
Version
SUBSTITUTE 1
Reference

Sponsor
THE CHAIR

Title
Substitute resolution authorizing carryover of certain fund balances from 2021 to 2022 in accordance with Section 65.07(1)(p), Wisconsin Statutes.

Analysis
The Common Council annually authorizes the carryover of certain available fund balances to permit achieving or completing previously authorized and funded purposes, programs, projects, or equipment purchases. This resolution authorizes the City Comptroller to carry over the accounts enumerated in Exhibit A, which is attached to this file.

Body
Whereas, It has been the practice of the Mayor and the Common Council of the City of Milwaukee to maintain as low a tax rate as is possible, consistent with the standard of services requested by the citizens of Milwaukee; and

Whereas, The authorization to carry over certain available fund balances to permit achieving or completing a previously authorized and funded purpose, program, project, or equipment purchase is in the best interests of the city and assists in reducing the amounts that must be levied on taxable property in the City of Milwaukee; and

Whereas, The Budget and Management Division and the Finance and Personnel Committee have reviewed the 2021-2022 carryover requests and recommends in this resolution those carryovers which appear to be in compliance with Section 65.07(1)(p), Wisconsin State Statutes, Capital Guidelines, Grant and Aid Guidelines, Community Development Agency Guidelines, and other prudent criteria; now, therefore, be it

Resolved, By the Common Council of the City of Milwaukee that it hereby authorizes and directs the City Comptroller to carry over the accounts enumerated in Exhibit A (attached to this file) in the amounts set forth in the recommended column; and, be it

Further Resolved, That the City Comptroller is hereby authorized and directed to close out each Capital Purpose Account in accordance with the requirements of Common Council Resolution Fil...

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