City of Madison - File #: 40817

• File #: 40817
• Version: 4
• Name: Appropriating $3,850,000 from the General Fund balance to agency budgets and the Insurance fund and $347,300 from the Library Fund balance to cover various unbudgeted expenditures in 2015, and to amend the 2016 adopted capital budget to authorize general
• Type: Resolution
• Status: Passed
• File created: 11/11/2015
• In control: BOARD OF ESTIMATES (ended 4/2017)
• On agenda: 1/5/2016
• Final action: 1/5/2016
• Enactment date: 1/5/2016
• Enactment #: RES-16-00012
• Title: THIRD SUBSTITUTE - Appropriating $ 3,035,400 3,850,000 from the General Fund balance to agency budgets and the Insurance and Room Tax Workers Compensation Funds and $347,300 from the Library Fund balance to cover various unbudgeted expenditures in 2015, and to amend the 2016 adopted capital budget to authorize general obligation borrowing in 2015 for the Traffic Engineering capital budget related to the public safety radio project and in 2016 for the Information Technology capital budget related to the fiber and wireless network program and to reduce general obligation borrowing and increase other funding (direct appropriation to capital) by $83,791 in 2016 for the Traffic Engineering capital budget related to the public safety radio project.
• Sponsors: Denise DeMarb, Paul R. Soglin

Date	Ver.	Action By	Action	Result
1/5/2016	3	COMMON COUNCIL	Reconsider	Pass
1/5/2016	4	COMMON COUNCIL	Adopt - 15 Votes Required	Pass
12/1/2015	2	COMMON COUNCIL	Adopt Substitute	Pass
11/23/2015	2	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT (15 VOTES REQUIRED) - REPORT OF OFFICER	Pass
11/17/2015	1	COMMON COUNCIL	Refer	Pass
11/11/2015	1	Finance Department	Referred for Introduction

Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2015 Operating Budget. The appropriation of $3,035,400 3,850,000, from the General Fund balance brings the 2015 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 unreserved, undesignated, and unassigned General Fund balance will remain near the target level of 15 percent of budgeted expenditures at the end of 2015.

The resolution also appropriates $347,300 from the Library Fund balance to supplement the Library budget. This amount is expected to be offset by possible underspending in other areas of the Library budget.

The resolution adds $224,000 of general obligation borrowing authority to the 2016 adopted capital budget for the fiber and wireless network project. This funding should have been reauthorized from 2015.

The resolution reduces general obligation borrowing authority by $83,791 and increases other funds (direct appropriation to capital) by $83,791 in the 2016 adopted capital budget for the public safety radio project. This amount reflects the full amount of the reoffering premium received on the 2015 general obligation borrowing. The adopted 2016 operating budget reflects this amount in the direct appropriation to capital. The adopted 2016 capital budget needs to be amended to reflect this change.

Title
THIRD SUBSTITUTE - Appropriating $ 3,035,400 3,850,000 from the General Fund balance to agency budgets and the Insurance and Room Tax Workers Compensation Funds and $347,300 from the Library Fund balance to cover various unbudgeted expenditures in 2015, and to amend the 2016 adopted capital budget to authorize general obligation borrowing in 2015 for the Traffic Engineering capital budget related to the public safety radi...