Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2008 Operating Budget and appropriates a net amount of $342,000 from the General Fund Balance. The $1,000,000 Contingent Reserve originally set aside in the General Fund for 2008 has already been appropriated by the Common Council to various purposes during the year. Therefore, any additional appropriation must come from General Fund balance. Required additional appropriations have been substantially offset by savings identified in other General Fund agencies and expenditure categories.
This appropriation of $342,000 from General Fund balance brings the 2008 General Fund budget to the expenditure limit allowable under the State of Wisconsin's Expenditure Restraint Program. There is no impact on the tax levy. It is anticipated that, following this transfer, the unreserved, undesignated General Fund Balance will remain at approximately 14.6% of budgeted expenditures, slightly below the established target of 15%.
Title
Appropriating $342,000 from the General Fund Balance and transferring within agency budgets to cover various unbudgeted departmental expenditures during 2008.
Body
PREAMBLE
As the end of the year approaches, a review of agency budgets indicates a number of areas where conditions and events during 2008 are expected to result in the overrun of major departmental expenditure categories. In some cases, offsetting savings in another major expenditure or program revenue category are also available within the same department, so that no additional appropriation is required to balance the agency's overall budget. In other cases, however, internal savings are not sufficient to offset predicted cost overruns, resulting in a need to appropriate funds from the General Fund balance. For 2008, such additional appropriations are anticipated in the Police Department, Fire Department and Streets Division.
This resolution is a compilation of requested internal budget transfers and Fund Balance appropriations needed to adjust for the identified departmental budget overruns without exceeding the expenditure limits imposed under the State Expenditure Restraint Program.
WHEREAS, a review of actual expenditures to date has identified a number of departmental expenditure categories in General Fund agencies which are expected to exceed budget authorization by the end of the year, and
WHEREAS, savings have been identified in a number of other General Fund agencies and departmental expenditure categories which can offset a portion of the needed appropriation to remain eligible for future payments under the State's Expenditure Restraint Program,
NOW THEREFORE BE IT RESOLVED, that the Common Council amends the 2008 Operating Budget to authorize the following adjustments to expenditure categories within General Fund departments:
See Attachment Titled: 2008 Year End Adjustments.pdf
BE IT FURTHER RESOLVED, that a net amount of $342,000 be appropriated from the General Fund balance to various departmental operating budgets to fund expenditures during 2008:
Police Department: $731,400
Fire Department: $70,000
Municipal Court: $(72,000)
Attorney: $(170,000)
Comptroller: $(25,400)
Information Technology: $(89,000)
Human Resources: $(80,000)
Engineering Division: $(231,000)
Streets Division: $766,000
Parks Division: $(135,000)
Traffic Engineering Division: $(137,000)
Building Inspection: $(178,000)
Miscellaneous Appropriations: $(108,000)
Net Appropriation from General Fund Balance: $342,000