Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2010 Operating Budget. The appropriation of $5,744,000 from the General Fund balance brings the 2010 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 General Fund balance will remain at approximately 12.5% of budgeted expenditures, somewhat below the established target of 15%.
Title
Appropriating $5,744,000 from the General Fund balance to agency budgets, the Capital Projects Fund and the Workers Compensation Fund to cover various unbudgeted expenditures during 2010.
Body
[PREAMBLE]
As the end of the year approaches, a review of agency operating budgets indicates a number of areas where conditions and events during 2010 are expected to result in the overrun of specific expenditure categories:
The most significant of these is in the area of Police Department employee compensation. Several factors, including the authorized "overhire" of 11 officers earlier this year in advance of receiving federal COPS grant funding, the higher than normal salary savings required in the 2010 budget and the cost of converting vacation leave to pay as authorized in the Police collective bargaining agreement will, when taken together, result in an estimated budget overrun of nearly $2,000,000 by the end of the year. Savings in various other accounts within the Police department will only partially offset these costs, and the Department is expected to end the year with a net budget shortfall of approximately $1,600,000, as was projected and reported in July.
In some of the City's other largest operating departments (Fire, Parks and Streets), overruns of specific accounts have also been identified. In each of these cases, ho...
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