Fiscal Note
This negotiated settlement results in wage and benefit costs that are $480,000 greater than the amounts accrued and budgeted for the years 2004 and 2005. Consequently, the 2005 budget must be amended to authorize these unanticipated expenditures. This budget amendment does not exceed the expenditure limits imposed bt the State Expenditure Restraint Program for 2005, and sufficient fund balance is available to finance these wage and benefit payments.
Title
Authorizing the Mayor and City Clerk to execute a Labor Agreement between the City of Madison and Local 236, LIUNA, AFL-CIO, for the period of January 1, 2004 through December 31, 2005 and amending the 2005 Operating Budget to appropriate $480,000 to fund associated wage and benefit costs.
Body
Be it resolved that the Mayor and City Clerk are authorized to execute a Labor Agreement between the City of Madison and Local 236, LIUNA, AFL-CIO for the period January 1, 2004 through December 31, 2005.
Be it further resolved that the 2005 Streets, Motor Equipment, Engineering and Library Operating Budgets be amended to appropriate $480,000 from General Fund Balance to fund the unbudgeted wage and benefit costs associated with this labor contract.