Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2006 Operating Budget. An unexpended balance of $723,040 $748,000 currently remains in the Contingent Reserve, sufficient to fund . A an appropriation of $695,800 $677,000 from that source. will leave a sufficient balance to fund other appropriations pending for 2006 from that account. There is no impact on the tax levy.
The appropriation of $3,117,000 from the General Fund balance brings the 2006 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 12% of budgeted expenditures, below the established target of 15%.
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SUBSTITUTE - Appropriating $695,800 $677,000 from the Contingent Reserve, appropriating $3,117,000 from the General Fund Balance and transferring within agency budgets to cover various unbudgeted departmental expenditures during 2006.
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PREAMBLE
As the end of the year approaches, a review of agency budgets indicates a number of areas where conditions and events during 2006 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 other cases, however, internal savings are not sufficient to offset predicted cost over runs, resulting in a need to appropriate funds from Contingent Reserve or the General Fund balance. For 2006, a need for such appropriations are anticipated in the Miscellaneous Appropriation for the Police and Fire Commission as well as in the Police Department, the Mayor's Office, the Attorney's Office, the Streets Division and Madi...
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