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Madison projects year‑end surplus; committee seeds $1M shelter endowment in appropriation resolution
Summary
Finance staff projected higher revenues and underspending that together point to an estimated year‑end surplus; the committee approved a year‑end appropriation (Legistar 90,967) including a $1,000,000 transfer to seed a shelter endowment and increases to several direct appropriations, including Metro Transit subsidy.
Finance staff presented the year‑end appropriation resolution (Legistar 90,967) on Dec. 1 and the committee adopted the resolution by unanimous vote.
Christine (finance staff) summarized the general fund projection: revenues were projected to be about $9,000,000 above the revised budget and the combined effect of revenue and underspending led staff to estimate roughly $10,600,000 in surplus at year‑end. The presentation said higher interest earnings and mark‑to‑market adjustments account for the bulk of…
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