City of Somerville, Massachusetts - File #: 213925

• File #: 213925
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 5/29/2022
• In control: City Council
• On agenda: 6/2/2022
• Final action: 6/23/2022
• Enactment date: 6/2/2022
• Enactment #: 213925
• Title: Requesting a transfer of $975,088 from the Salary Contingency Account to the Salary and Wage Stabilization Fund.
• Code sections: Stabilization Fund -

Date	Ver.	Action By	Action	Result
6/30/2022	6	BOA	Mayoral Approval
6/23/2022	5	City Council	Approved
6/22/2022	4	Finance	Recommended to be discharged with no recommendation
6/2/2022	3	City Council	Referred for recommendation

  Agenda Text

title

Requesting a transfer of $975,088 from the Salary Contingency Account to the Salary and Wage Stabilization Fund.

body

Official Text

To the Honorable City Council:

I respectfully request a transfer in the amount of $975,088 from the Salary Contingency Account to the Salary and Wage Stabilization Fund. The amount of $975,088 is the estimated balance in the General Fund Salary Contingency Account as of June 30, 2022 This transfer preserves these funds in the Stabilization Fund for future collective bargaining settlements and various other salary adjustments.

My staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

Respectfully Submitted,

Katjana Ballantyne, Mayor