TO: Finance Committee
FROM: Office of the Aldermen
DATE: December 5, 2024
SUBJECT:title
Carry-Over of Aldermanic Initiative Funds
body
PURPOSE:
To establish procedures pursuant to Sec. 2-65(e)(6) of the Code of Ordinances for the carry-over of aldermanic initiative funds in certain instances.
BACKGROUND:
In January 2024, the City Council enacted Sec. 2-65 of the Code of Ordinances to codify the City's practice of making certain funds available to alderpersons to use at their discretion for purposes set forth in the Code. Under Sec. 2-65, alderpersons are generally required to spend or otherwise encumber the funds they receive annually for specific purposes. Section 2-65(e)(6), however provides that "whenever it appears to an alderperson that excess funds will remain unspent in any account from which the alderperson may authorize disbursements, the alderperson, may, in the manner determined by the finance committee, request the carry-over of such funds for a specific purpose authorized by this section for use in the next fiscal year." The Finance Committee has not yet established a process by which an alderperson may request a carry-over under Sec. 2-65.
DISCUSSION:
The attached policy is consistent with and based on the policy used by the Finance Department to authorize the carry-over of specific items from one year to the next. For funds available in fiscal year 2024, an alderperson must submit their request no later than January 9, 2025, and in year 2025 and thereafter, an alderperson must submit their request prior to the annual budgeting process to be eligible for carry-over. An alderperson will submit their request on the same form prepared for by the Finance Department for Department and Division Heads and the request shall be evaluated using the same process.
IMPACT STATEMENT:
Adoption of this policy will implement the City Council's intention to allow limited carry-overs for aldermanic initiative funds.
RECOMMENDATIONS:
That the Finance Committee approve the attached policy by motion.
cc: Finance Committee