SomervilleMeetings

24-0834 Mayor's Request Approved

Requesting approval of a transfer of $2,110,472 from the Salary Contingency Account-Salaries to the Salary & Wage Stabilization Fund.

Introduced
May 26, 2024
Assigned to
City Council
Enactment #
217293
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History

  1. Jun 25, 2024
    City Council Mayoral Approval
  2. Jun 20, 2024
    City Council Approved · roll call: pass Meeting agenda, item 6.H.21.
  3. Jun 18, 2024
    Finance Recommended to be discharged with no recommendation Meeting agenda, item 17.
  4. May 30, 2024
    City Council Referred for recommendation Meeting agenda, item 10.9.

Official text

To the Honorable City Council: The Mayor respectfully requests that this Council transfer $2,110,472 from the Salary Contingency Account-Salaries to the Salary and Wage Stabilization Fund. The amount of $2,110,472 is the estimated balance in the General Fund Salary Contingency Account as of June 30, 2024. This transfer preserves these funds in the Stabilization Fund for future collective bargaining settlements and various other salary adjustments. Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter. Respectfully Submitted, Katjana Ballantyne, Mayor