Fiscal Note
The 2016 tax levy established by this resolution is necessary to fund the 2017 budget. This levy will result in a tax rate of approximately $9.4954 mills
Title
Adopting the 2017 City Budget authorizing a 2016 general property tax levy of $219,728,630 for City of Madison purposes, adopting a supplemental increase of $987,457 in the allowable property tax levy for 2016, 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
The 2016 tax levy established by this resolution is necessary to fund the 2017 budget. This levy will result in a tax rate of approximately 9.4954 mills.
Adopting the 2017 City Budget authorizing a 2016 general property tax levy of $219,728,630 for City of Madison purposes, adopting a supplemental increase of $987,457 in the allowable property tax levy for 2016, 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.
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, 2017 and ending December 31, 2017 as shown in the 2017 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 ...
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