Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2009 Operating Budget. The appropriation of $2,778,000 from the General Fund balance brings the 2009 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 12% of budgeted expenditures, somewhat below the established target of 15%.
Title
Appropriating $2,778,000 from the General Fund Balance and transferring within agency budgets and to the Workers Compensation Fund to cover various unbudgeted departmental expenditures during 2009.
Body
PREAMBLE
As the end of the year approaches, a review of agency budgets indicates a number of areas where conditions and events during 2009 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 budget. In other cases, however, internal savings are not sufficient to offset predicted cost overruns, resulting in a need to appropriate funds from Contingent Reserve or the General Fund balance. For 2009, a need for such additional appropriations are anticipated in the Police Department, City Channel, Streets Division and the Office of Community Services.
The Workers Compensation Fund is also in need of an additional appropriation. The City of Madison has long been self-insured for workers compensation costs and has maintained a distinct internal service fund called the Workers Compensation Fund to account for costs associated with claims arising from work related injuries. Medical costs, disability settlements, administrative expenses and premiums for catas...
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