Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2005 Operating Budget. An unexpended balance of $799,727 currently remains in the Contingent Reserve. An appropriation of $175,000 $426,100 from that source Contingent Reserve will leave a sufficient balance to fund remaining anticipated 2004-2005 labor agreement settlements and a $200,000 but no transfer to the Affordable Housing Trust Fund. There is no impact on the tax levy.
The appropriation of $1,367,000 from the General Fund balance brings the 2005 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 13% of budgeted expenditures, below the established target of 15%.
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AMENDED SUBSTITUTE - Appropriating $175,000 $426,100 from the Contingent Reserve, appropriating $1,367,000 from the General Fund Balance and transferring within agency budgets to cover various unbudgeted departmental expenditures during 2005.
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PREAMBLE
As the end of the year approaches, a review of General Fund agency budgets indicates a number of areas where conditions and events during 2005 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 a few other cases, however, savings are not anticipated to be sufficient to offset predicted costs, resulting in a need to appropriate funds from Contingent Reserve or the General Fund balance. For 2006, such appropriations are needed in the Police, Fire and Streets agencies.
The Workers Compensation Fund is also in need of an additional app...
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