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File #: 45161    Version: Name: SUBSTITUTE Appropriating a net amount of $2,700,000 from the General Fund balance to agency budgets, the Fleet Internal Service Fund and the Insurance Fund; reducing the General Fund subsidy to Metro Transit by $5 million to reflect surplus fu
Type: Resolution Status: Passed
File created: 11/16/2016 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 12/6/2016 Final action: 12/6/2016
Enactment date: 12/9/2016 Enactment #: RES-16-00898
Title: SUBSTITUTE - Appropriating a net amount of $2,700,000 from the General Fund balance to agency budgets, the Fleet Internal Service Fund and the Insurance Fund; reducing the General Fund subsidy to Metro Transit by $5 million to reflect surplus fund balance; and amending the 2016 operating budget
Sponsors: Paul R. Soglin
Attachments: 1. Version1.pdf
Fiscal Note
This resolution provides funding authorization for a variety of expenditures not anticipated in the 2016 Operating Budget. The appropriation of $2,700,000, from the General Fund balance brings the 2016 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 below the target level of 15 percent of budgeted expenditures at the end of 2016 but above 14 percent. The amount appropriated in this resolution reflects an earlier appropriation of $1 million to the Clerk’s Office to replace damaged election equipment (RES-16-0557 - Legistar 43902 - adopted August 2, 2016).

This resolution reduces the General Fund subsidy to Madison Metro in 2016 by $5 million to reflect a $7 million surplus in the Metro enterprise fund. The resulting increase in the General Fund balance from this appropriation reduction will be appropriated to the Fleet Service Internal Service Fund to help address a $6 million deficit in this fund due to insufficient charges for depreciation costs. The General Fund appropriation to the Fleet Internal Service Fund will be used to increase the user agency budgets to support the allocation of the $6 million. After the application of $5 million of Metro fund balance to replace the reduction in the General Fund subsidy, $2 million will remain in the Metro fund balance.

This resolution appropriates $1.6 million to the Insurance Fund to address deficits that have arisen due to higher claim and premium costs. Approximately $1.16 million from the General Fund balance was assigned in the 2015 financial statements for this purpose. As such, this appropriation will reduce the unassigned General Fund balance by approximately $450,000.
Title
SUBSTITUTE - Appropriating ...

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