Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2012 Operating Budget. The appropriation of $5,099,500, from the General Fund balance brings the 2012 General Fund budget closer to the expenditure limit allowable under the State of Wisconsin’s Expenditure Restraint Program and helps preserve expenditure authority in future years. There is no impact on the tax levy. It is anticipated that, following this transfer, the unassigned General Fund balance will remain at approximately 16 percent of budgeted expenditures, above the established target of 15 percent.
The resolution also allocates funding from premium stabilization fund reserves budgeted in the 2012 budget under Supplemental Compensation to agencies to meet salary continuation and Police and Fire disability insurance billings. This change has no net impact on the General Fund balance.
Title
SUBSTITUTE-Appropriating $5,099,500 from the General Fund balance to agency budgets and the Insurance and Workers Compensation Funds to cover various unbudgeted expenditures in 2012 and to allocate the budget for salary continuation and Police and Fire disability insurance from Supplemental Compensation to agencies.
Body
As the end of the year approaches, a review of agency operating budgets indicates a number of areas where conditions and events during 2012 are expected to result in the overrun of specific expenditure categories. In addition, the funding from premium stabilization fund reserves needs to be allocated to agencies for salary continuation and Police and Fire disability insurance payments.
The most significant expenditure authority need is in the area of Police Department employee compensation. Conversion of vacation leave to pay as authorized in the Police collective bargaining agreement and overtime, combine to add $915,000, to estimated Police Department expenditures above budgeted amounts. Savings in other categories are expect...
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