Title
SUBSTITUTE: Mid-Year Appropriation Resolution amending the 2025 Adopted Operating Budget by taking the following actions: appropriating $2.3 million in general fund balance, appropriating $30,128 in library fund balance, appropriating $253,185 in Public Health fund balance, making transfers within agency budgets based on projected spending through the 2nd quarter of 2025, and appropriating revenues and making other adjustments in non-general fund agencies; and amending the 2025 Adopted Capital Budget by taking the following actions: updating project descriptions for approved capital projects, appropriating funding from non-borrowing sources, updating TID proceeds and borrowing based on recently adopted amendments to TID project plans, authorizing transfers of borrowing across projects, and removing excess borrowing.
Fiscal Note
The proposed resolution amends the 2025 adopted operating budget to appropriate $2.3 million in general fund balance to meet projected costs within the allowable maximum amount to continue qualifying for a payment under the State’s Expenditure Restraint Incentive Program (ERIP), increase budget authority from non-levy sources for various agencies, and make other technical adjustments within various agency budgets. The resolution also amends various capital budget projects based on available funding sources and borrowing. The amounts proposed in the mid-year appropriation resolution are based on budget projections using actual expenditure data from January through May 2025.
Expenditure Restraint Incentive Program (ERIP) and General Fund Balance
Under the State of Wisconsin Expenditure Restraint Incentive Program (ERIP), the City must limit the growth in its General Fund budget over the prior year, excluding debt service, to rate of inflation plus 60% of the net new construction factor in order to qualify for a state aid payment of approximately $7 million. In 2025, the remaining expenditure capacity under ERIP is $2.3 million. Th...
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