Number
091422
Version
ORGINIAL
Reference
Sponsor
ALD. MURPHY
Title
Resolution relating to expenditure of funds to be reimbursed by greater than anticipated revenue.
Analysis
This resolution authorizes the Office of the Comptroller to increase appropriations to the Port of Milwaukee’s 2009 budget to allow for the increased transfer to the City’s general revenue fund.
Body
Whereas, Common Council file 980965 established procedural guidelines related to the expenditure of funds to reimbursed by greater than anticipated revenue; and
Whereas, Section 304-24 of the City of Milwaukee Code of Ordinances regulates the receipt, appropriation and expenditure of revenues received by the City; and
Whereas, The estimated Summerfest Revenue Transfer to the general fund account as a source of funds for general city purposes was established at $1,110,000 as a result of the 2009 budget process; and
Whereas, The revenue to date exceeds $1,110,000
Pursuant to s. 304-91, I hereby certify that the money required for this item is anticipated to be realized and expended only for the purposes of this resolution.
______________________ _____________
Comptroller Date
: now, therefore, be it
Resolved, That $100,000 be appropriated to the 2009 Port of Milwaukee Summerfest Revenue Transfer account 0480-4280-R421-006900 with a corresponding increase to the estimated revenue account 0480-4280-009400 and, be it
Further Resolved, That the Comptroller be and is hereby authorized and directed to carry out the intent of this resolution.
Drafter
Budget and Management Division
Ref:
February 10, 2010
FINANCE: 09 greater revenue.doc
3/31/10 Technical Correction. dkf.