Title
Resolution authorizing a 2020 Operating Budget Amendment, a reduction in the amount of $3,087, in conjunction with the Wisconsin Department of Revenue (DOR) Expenditure Restraint Program qualifications, to ensure compliance, due to calculation rounding in the DOR submittal form
Body
WHEREAS, the City participates in the WI DOR Expenditure Restraint Program which limits the percentage increase of the Operating Budget year over year, based on the formula established by the DOR; and,
WHEREAS, the City's 2020 Budget, under the Expenditure Restraint Program, was allowed to increase by an amount 'less than 2.3%' under the established formula to qualify for a 2021 Expenditure Restraint Payment; and,
WHEREAS, the City's actual budgeted increase was $1,455,500, or 2.2998%, which is under the threshold but when rounded by the DOR in the submittal form, is at the threshold which is not allowable under the Expenditure Restraint Program; and,
WHEREAS, the DOR submittal form is programmed to round the calculation in a certain manner, thereby changing the City's percentage increase to 2.3%, which is not technically less than the 2.3% requirement, thereby requiring an adjustment of ($3,087), or (0.00448%), to the previously approved budget to ensure compliance with the DOR Expenditure Restraint Program; and,
WHEREAS, City staff is recommending a reduction in the previously approved 2020 Operating Budget, of $3,087, on the expenditure side, in Account Number 100-8813.517.30-04, General Fund, Special Projects, Professional Services-Other, to remain in compliance with the program, and a corresponding reduction of $3,087, on the revenue side, in Account Number 100-0000-461.01-00, General Fund, Interest Revenue, Interest on Investments, to maintain a balanced budget.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Common Council of the City of West Allis that the 2020 Operating Budget Amendment, an overall reduction in the amount of $3,087, in conjunction with the W...
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