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The annual budgets are formulated based on the best information at the time of preparation, which is usually around four months before the budget year begins. For 2020, the preliminary actual results vary from the budgets formulated and some departments are over budget while other departments are under budget. This results in the need for the Council to re-appropriate the 2020 budget for expenditures. The budget amendment will bring the expenditures and transfers into compliance with Wis. Stats. 65.90(5)(a) Municipal Budgets. The total amount of the general fund budget stays at the original approved amount of $10,869,015. The appropriations between the "transfers to other funds" and "general fund operations" is what was being requested to be amended.
The 2020 year resulted in actual general fund revenues being under budget by $394,953, expenditures being under budget by $769,574, which resulted in actual net revenue of $374,621. The Administrator is requesting that net revenue in the amount of $300,000 be re-appropriated to future capital projects. The requested reappropriation of $56,250 to internal service funds and $4,524 to special revenue funds are to cover additional 2020 expenditures. Net 2020 revenue after the proposed amendment would be $13,847.
The full City Council meeting agenda from August 31, 2021 can be found at https://wi-ashland.civicplus.com/129/Agendas-Minutes, and the minutes will be published once approved by Council at their September 14, 2021 meeting.