Fiscal Note
The 2013 tax levy established by this resolution is necessary to fund the 2014 budget. This levy will result in a tax rate of approximately 9.514 mills.
Title
Adopting the 2014 City Budget authorizing a 2013 general property tax levy of $198,480,300 for City of Madison purposes, adopting a supplemental increase of $96,288 in the allowable property tax levy for 2013, as authorized under s. 66.0602 (3) (f), Wisconsin Statutes, and declaring the City's official intent to issue general obligation and revenue bonds to reimburse for certain expenditures authorized therein.
Body
BE IT RESOLVED, that the revenues herein named and funds received from taxes levied and other sources are hereby appropriated to the several departments of municipal government for purposes hereinafter mentioned for the fiscal year beginning January 1, 2014 and ending December 31, 2014 as shown in the 2014 City Budget on file in the office of the City Clerk.
BE IT FURTHER RESOLVED, that the expenditures within departments for the various major objects of expenditure and capital projects shall not exceed the amounts specified for such purposes as shown in the budget on file in the office of the City Clerk; provided, however, that the Finance Director is authorized to approve intradepartmental transfers of unencumbered balances of up to $5,000, and the Mayor is authorized to approve interdepartmental transfers of up to $5,000.
BE IT FURTHER RESOLVED that, pursuant to s. 66.0602 (3) (f), Wisconsin Statutes, the allowable levy for 2013 is increased by $96,289 (from $198,384,548 to $198,480,836), by applying unused levy limit authority carried over from 2012, and that this increase in the allowable levy is 0.5 percent or less of the actual levy in 2012, the use of part or all the carried over amount for the 2013 levy requires a majority vote of the governing body.
BE IT FURTHER RESOLVED, that the allowable levy for 2013, subject to certification by the Department of Revenue of th...
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