City of Somerville, Massachusetts - File #: 203658

• File #: 203658
• Version: 1
• Type: Mayor's Request
• Status: Approved
• File created: 6/8/2017
• In control: City Council
• On agenda: 6/8/2017
• Final action: 6/22/2017
• Enactment date: 6/8/2017
• Enactment #: 203658
• Title: Requesting an appropriation of $1,000,000 from Unreserved Fund Balance ("Free Cash") to the Salary and Wage Stabilization Fund.
• Code sections: Stabilization Fund -

Date	Ver.	Action By	Action	Result
6/26/2017	6	BOA	Mayoral Approval
6/22/2017	5	City Council	Approved
6/22/2017	4	Finance	Recommended to be discharged with no recommendation
6/8/2017	3	City Council	Referred for recommendation

  Agenda Text

title

Requesting an appropriation of $1,000,000 from Unreserved Fund Balance ("Free Cash") to the Salary and Wage Stabilization Fund.

body

Official Text

To the Honorable Board:

I respectfully request an appropriation of 1,000,000 from Unreserved Fund Balance ("Free Cash") to the Salary and Wage Stabilization Fund. 

The purpose of the Salary and Wage Stabilization Fund is to fund and hold in reserve monies for collective bargaining agreement settlements, wage adjustments, cost of living allowances for benefits for both union and non-union employees, and arbitrator and judicial awards.

Respectfully Submitted,

Joseph A. Curtatone, Mayor