Number
110479
Version
Substitute 1
Reference
Sponsor
The Chair
Title
Substitute resolution transferring up to $100,000 from the 2011 Common Council Contingent Fund to the Unemployment Compensation Special Purpose Account.
Analysis
This resolution transfers up to $100,000 from the 2011 Common Council Contingent Fund to the Department of Employee Relations - Unemployment Compensation Special Purpose Account to cover a projected shortfall created by a one-time special assessment for interest on outstanding federal loans for Wisconsin's Unemployment Fund.
Body
Whereas, The Department of Employee Relations - Unemployment Compensation Special Purpose Account was funded in 2011 at $1,065,000; and
Whereas, $1,005,465 of the $1,065,000 budget has already been expended; and
Whereas, The Department of Employee Relations and the Budget Office agree that the projected expenditures in 2011 for Unemployment Compensation and the Special Assessment will be at least $1,165,000, and
Whereas, These expenditures are non-discretionary; now, therefore, be it
Resolved, By the Common Council of the City of Milwaukee, that an amount not to exceed $100,000 be transferred from the Common Council Contingent Fund (0001-9990-001-C001-006300-2011) to the Unemployment Compensation Special Purpose Account (006100-0001-1650-0001-S172-2011); and, be it
Further Resolved, That the appropriate City officials are authorized and directed to take whatever steps are necessary to fulfill the intent of this resolution.
Requestor
DER
Drafter
Edwin Reyes-CAO
Technical Correction-tb-10-31-11