Madison, WI Header
Share to Facebook Share to Twitter Bookmark and Share
File #: 53834    Version: Name: 2018 Year End Appropriation.
Type: Resolution Status: Passed
File created: 11/14/2018 In control: Finance Department
On agenda: 12/4/2018 Final action: 12/4/2018
Enactment date: 12/10/2018 Enactment #: RES-18-00842
Title: SUBSTITUTE - Amending the 2018 Adopted Operating Budget by appropriating a net amount of $550,000 from the General and Library Fund balances to agency budgets, making transfers of appropriations between and within agencies; and moving the General Municipal Employee pay increase from the first pay period of 2019 to the last pay period of 2018.
Sponsors: Paul R. Soglin, Michael E. Verveer
Fiscal Note
This resolution appropriates a variety of expenditures not anticipated in the 2018 Adopted Operating Budget. The resolution authorizes $550,000 in new appropriations funded by General Fund balance. These appropriations bring the 2018 Revised Operating Budget closer to the State of Wisconsin Expenditure Restraint Program limit and helps preserve expenditure authority in future years. Adoption of this resolution has 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 2018 but above 14 percent.

In addition to new appropriations, the resolution also includes a series of transfers across and within departments. These adjustments reflect projected spending levels through the 3rd Quarter; all proposed transfers are net neutral. Among these transfers is fully expending the 2018 Contingent Reserve. As of the November 20th Common Council meeting the remaining balance of the Contingent Reserve is $1,554,085.

Title
SUBSTITUTE - Amending the 2018 Adopted Operating Budget by appropriating a net amount of $550,000 from the General and Library Fund balances to agency budgets, making transfers of appropriations between and within agencies; and moving the General Municipal Employee pay increase from the first pay period of 2019 to the last pay period of 2018.

Body
As of the 2018 3rd Quarter projection the General and Library funds are projecting a $2.4 million surplus. This resolution increases General Fund appropriations by $550,000; the resolution also transfers $2.2 million across various agency budgets (including the remaining balance of the Contingent Reserve).

New Appropriations
Municipal Court requires an additional $125,000 to offset a shortfall in projected revenue;

The Streets Division requires an additional $300,000 for landfill tipping fees and processing fees associated...

Click here for full text