Fiscal Note
The proposed resolution amends the 2018 Adopted Operating Budget in order to make technical adjustments within various agency budgets. In certain instances, the Adopted Operating Budget includes funding for expenditures centrally with the anticipation of transferring those funds to agency budgets throughout the year when actual spending patterns are known. This is the case for both sick leave escrow and carry forward encumbrances; the amounts proposed in the midyear appropriation adjustment are based on actual expenditures through the first half of 2018. All of the proposed adjustments through this resolution are net neutral within the General Fund and have no impact on the Expenditure Restraint Program.
Sick Leave Escrow
The 2018 Adopted Operating Budget includes $2.0m for sick leave escrow payments made from the General Fund. Through the 2nd Quarter, $2.0m has been paid out by General Fund agencies. The resolution recommends transferring funds only to those agencies where the sick leave escrow amount is contributing to a deficit in the agency’s overall budget.
Carry Forward Encumbrances
The 2018 Adopted Operating Budget includes $400,000 for encumbrances associated with contracts that span multiple years, the total amount carried forward from 2017 totals $386,000. The balance of the budget for carry forward encumbrances ($14,000) will be transferred to the Contingent Reserve.
Intra-Agency Transfers
The Fleet Division requires a transfer across major categories of spending. The resolution proposes transferring $100,000 from perm wages and $50,000 from purchased services to supplies. The increased supply budget is needed for increased diesel and fuel costs.
Monona Terrace requires an increase in budget authority for spending associated with the facility rental events that have occurred in 2018. The resolution proposes increasing Monona Terrace’s revenue budget by $270,000 and subsequently increasing the supply budget by $50,000 and purch...
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