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Financial Procedure
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Financial Procedure FAQ 1
Is a city or village mandated by law to have a yearly audit performed by a certified public accountant?
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Financial Procedure FAQ 2
Is a majority vote of a quorum of the municipal governing body sufficient to adopt the annual municipal budget? Yes, unless a local ordinance provides otherwise. No extraordinary vote is required to formally adopt the annual budget. However, after the budget has been adopted, a two-thirds vote of the entire membership of the governing body (not just those attending and voting) is necessary to effect any change in the budget (i.e., the amount of the tax to be levied or certified, the amounts of the various appropriations and the purposes for such appropriations stated in the budget). Wis. Stat. sec. 65.90(1) and (5).
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Financial Procedure FAQ 3
When must a municipal budget be amended and what is the procedure for doing so?
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Financial Procedure FAQ 4
Can a volunteer municipal fire department maintain funds donated to the department or raised for the department's benefit by the department's fundraising efforts, in a separate account in the fire department's name and exercise exclusive control over the funds?
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Financial Procedure FAQ 5
Is there a deadline for adopting a municipal budget?
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Financial Procedure FAQ 6
What is "debt" within the meaning of Article XI, sec. 3(2) and 3(3) of the Wisconsin Constitution, which limits municipal borrowing and other debt?
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Financial Procedure FAQ 7
Can a municipality lawfully accumulate surplus tax revenue?
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Financial Procedure FAQ 8
What are impact fees and what can they be used for?
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FINANCIAL PROCEDURE FAQ 9
Are expenditures related to emergencies addressed by the Expenditure Restraint and Levy Limit law?