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File #: 40817    Version: 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
Attachments: 1. 3rd Substitute 40817 (Version 4).pdf, 2. 2015 Year End Appropriation -- 3rd substitute .pdf, 3. BY TITLE ONLY 40817 (Version 1).pdf, 4. Proposed Second Substitute 40817.pdf, 5. SUBSITUTE 40817 (Version 2).pdf, 6. 2015 Year End Appropriation.pdf
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...

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