Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2013 Operating Budget. The appropriation of $4,699,700, from the General Fund balance brings the 2013 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 and based on fund balance applied in the 2014 Adopted Operating Budget, the unreserved, undesignated, and unassigned General Fund balance will remain at or above the target level of 15 percent of budgeted expenditures at the end of 2013.
The resolution also amends the 2013 capital budget to transfer $1.566 million of unused funds borrowed for the Enterprise Resources Planning system in 2012 to hardware and software purchases within the Information Technology budget, to avoid arbitrage penalties. The City’s 2013 general obligation borrowing amount reflected this transfer.
Title
SUBSTITUTE-Appropriating $4,699,700 from the General Fund balance to agency budgets and the Insurance and Workers Compensation Funds to cover various unbudgeted expenditures in 2013 and amending the 2013 Information Technology capital budget to transfer cash between projects.
Body
As the end of the year approaches, a review of agency operating budgets indicates a number of areas where conditions and events during 2013 are expected to result in the overrun of specific expenditure categories. In addition, funding is transferred between Information Technology capital projects.
One of the most significant expenditure authority needs is in the area of Police Department employee compensation. Conversion of vacation leave to pay as authorized in the Police collective bargaining agreement, special duty pay, and an employee arbitration award require an additional $505,000, in expenditure authority. Vehicle, vehicle ...
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