66.0602(3)(k)3.
3. The combined amount of increased levy in 2012 and 2013 by the village of Shorewood under
subd. 2. may not exceed the amount of the funds applied from the general fund to replace amounts not levied in 2011 to compensate for an error in the valuation of Tax Incremental District Number 1 in the village.
66.0602(3)(L)
(L) If the village of Warrens reduces its levy from the amount it would have levied for 2012 if not for an error in the valuation of Tax Incremental District Number 1 in the village, to compensate for that error, the limit otherwise applicable under this section to the village in 2013 is increased by the amount of the reduction, as determined by the department of revenue. The amounts added to the village's limit for 2013 under this paragraph may not exceed the amount by which the village underutilized its limit for 2012, as determined by the department of revenue.
66.0602(3)(Lm)
(Lm) If the city of Fox Lake reduces its levy from the amount it would have levied for 2012 if not for an error in the valuation of Tax Incremental District Number 1 in the city, to compensate for that error, the limit otherwise applicable under this section to the city in 2013 is increased by the amount of the reduction, as determined by the department of revenue. The amounts added to the city's limit for 2013 under this paragraph may not exceed the amount by which the city underutilized its limit for 2012, as determined by the department of revenue.
66.0602 Note
NOTE: Par. (Lm) was created as par. (L) by
2011 Wis. Act 145 and renumbered to par. (Lm) by the legislative reference bureau under s. 13.92 (1) (bm) 2.
66.0602(4)(a)(a) A political subdivision may exceed the levy increase limit under
sub. (2) if its governing body adopts a resolution to that effect and if the resolution is approved in a referendum. The resolution shall specify the proposed amount of increase in the levy beyond the amount that is allowed under
sub. (2), and shall specify whether the proposed amount of increase is for the next fiscal year only or if it will apply on an ongoing basis. With regard to a referendum relating to the 2005 levy, or any levy in an odd-numbered year thereafter, the political subdivision may call a special referendum for the purpose of submitting the resolution to the electors of the political subdivision for approval or rejection. With regard to a referendum relating to the 2006 levy, or any levy in an even-numbered year thereafter, the referendum shall be held at the next succeeding spring primary or election or partisan primary or general election.
66.0602(4)(b)
(b) The clerk of the political subdivision shall publish type A, B, C, D, and E notices of the referendum under
s. 10.01 (2).
Section 5.01 (1) applies in the event of failure to comply with the notice requirements of this paragraph.
66.0602(4)(c)
(c) The referendum shall be held in accordance with
chs. 5 to
12. The political subdivision shall provide the election officials with all necessary election supplies. The form of the ballot shall correspond substantially with the standard form for referendum ballots prescribed by the elections board under
ss. 5.64 (2) and
7.08 (1) (a). The question shall be submitted as follows: "Under state law, the increase in the levy of the .... (name of political subdivision) for the tax to be imposed for the next fiscal year, .... (year), is limited to ....%, which results in a levy of $.... Shall the .... (name of political subdivision) be allowed to exceed this limit and increase the levy for the next fiscal year, .... (year), by a total of ....%, which results in a levy of $....?".
66.0602(4)(d)
(d) Within 14 days after the referendum, the clerk of the political subdivision shall certify the results of the referendum to the department of revenue. The levy increase limit otherwise applicable to the political subdivision under this section is increased in the next fiscal year by the percentage approved by a majority of those voting on the question. If the resolution specifies that the increase is for one year only, the amount of the increase shall be subtracted from the base used to calculate the limit for the 2nd succeeding fiscal year.
66.0602(5)
(5) Exception, certain towns. A town with a population of less than 2,000 may exceed the levy increase limit otherwise applicable under this section to the town if the town board adopts a resolution supporting an increase and places the question on the agenda of an annual town meeting or a special town meeting and if the annual or special town meeting adopts a resolution endorsing the town board's resolution. The limit otherwise applicable to the town under this section is increased in the next fiscal year by the percentage approved by a majority of those voting on the question. Within 14 days after the adoption of the resolution, the town clerk shall certify the results of the vote to the department of revenue.
66.0602(6)
(6) Penalties. Except as provided in
sub. (6m), if the department of revenue determines that a political subdivision has a penalized excess in any year, the department of revenue shall do all of the following:
66.0602(6)(a)
(a) Reduce the amount of county and municipal aid payments to the political subdivision under
s. 79.035 in the following year by an amount equal to the amount of the penalized excess.
66.0602(6)(b)
(b) Ensure that the amount of any reductions in county and municipal aid payments under
par. (a) lapses to the general fund.
66.0602(6)(c)
(c) Ensure that the amount of the penalized excess is not included in determining the limit described under
sub. (2) for the political subdivision for the following year.
66.0602(6)(d)
(d) Ensure that, if a political subdivision's penalized excess exceeds the amount of aid payment that may be reduced under
par. (a), the excess amount is subtracted from the aid payments under
par. (a) in the following years until the total amount of penalized excess is subtracted from the aid payments.
66.0602(6m)
(6m) Mistakes in levies. The department of revenue may issue a finding that a political subdivision is not liable for a penalty that would otherwise be imposed under
sub. (6) if the department determines that the political subdivision's penalized excess is caused by one of the following clerical errors:
66.0602(6m)(a)
(a) The department, through mistake or inadvertence, has assessed to any county or taxation district, in the current year or in the previous year, a greater or less valuation for any year than should have been assessed, causing the political subdivision's levy to be erroneous in a way that directly causes a penalized excess.
66.0602(6m)(b)
(b) A taxation district clerk or a county clerk, through mistake or inadvertence in preparing or delivering the tax roll, causes a political subdivision's levy to be erroneous in a way that directly causes a penalized excess.
66.0602 History
History: 2005 a. 25,
484;
2007 a. 20,
115,
129;
2009 a. 28;
2011 a. 32,
63,
75,
140,
145,
258; s. 13.92 (1) (bm) 2.
66.0603(1g)(a)(a) In this section, "governing board" has the meaning given under
s. 34.01 (1) but does not include a local cultural arts district board created under
subch. V of ch. 229.
66.0603(1m)(a)(a) A county, city, village, town, school district, drainage district, technical college district or other governing board, other than a local professional football stadium district board created under
subch. IV of ch. 229, may invest any of its funds not immediately needed in any of the following:
66.0603(1m)(a)1.
1. Time deposits in any credit union, bank, savings bank, trust company or savings and loan association which is authorized to transact business in this state if the time deposits mature in not more than 3 years.
66.0603(1m)(a)2.
2. Bonds or securities issued or guaranteed as to principal and interest by the federal government, or by a commission, board or other instrumentality of the federal government.
66.0603(1m)(a)3.
3. Bonds or securities of any county, city, drainage district, technical college district, village, town or school district of this state.
66.0603(1m)(a)3s.
3s. Bonds issued by the University of Wisconsin Hospitals and Clinics Authority.
66.0603(1m)(a)4.
4. Any security which matures or which may be tendered for purchase at the option of the holder within not more than 7 years of the date on which it is acquired, if that security has a rating which is the highest or 2nd highest rating category assigned by Standard & Poor's corporation, Moody's investors service or other similar nationally recognized rating agency or if that security is senior to, or on a parity with, a security of the same issuer which has such a rating.
66.0603(1m)(a)5.
5. Securities of an open-end management investment company or investment trust, if the investment company or investment trust does not charge a sales load, if the investment company or investment trust is registered under the investment company act of 1940,
15 USC 80a-1 to
80a-64, and if the portfolio of the investment company or investment trust is limited to the following:
66.0603(1m)(a)5.a.
a. Bonds and securities issued by the federal government or a commission, board or other instrumentality of the federal government.
66.0603(1m)(a)5.b.
b. Bonds that are guaranteed as to principal and interest by the federal government or a commission, board or other instrumentality of the federal government.
66.0603(1m)(b)1.1. A town, city, or village may invest surplus funds in any bonds or securities issued under the authority of the municipality, whether the bonds or securities create a general municipality liability or a liability of the property owners of the municipality for special improvements, and may sell or hypothecate the bonds or securities. Funds of an employer, as defined by
s. 40.02 (28), in a deferred compensation plan may also be invested and reinvested in the same manner authorized for investments under
s. 881.01.
66.0603(1m)(b)2.
2. Funds of any school district operating under
ch. 119, held in trust for pension plans intended to qualify under section
401 (a) of the Internal Revenue Code, other than funds held in the public employee trust fund, may be invested and reinvested in the same manner as is authorized for investments under
s. 881.01.
66.0603(1m)(b)3.
3. A school district may invest and reinvest funds that are held in trust, other than funds held in the public employee trust fund, solely to provide any of the following benefits, in the same manner as is authorized for investments under
s. 881.01:
66.0603(1m)(b)3.a.
a. Post-employment health care benefits provided either separately or through a defined benefit pension plan.
66.0603(1m)(b)3.b.
b. Other post-employment benefits provided separately from a defined benefit pension plan.
66.0603(1m)(b)4.
4. A school board may not discuss or vote on establishing a trust fund to provide the benefits described in
subd. 3. unless the notice of the school board meeting at which the discussion or vote may occur includes the issue as a separate agenda item.
66.0603(1m)(b)5.
5. A city, village, town, county, drainage district, technical college district, or other governing board as defined by
s. 34.01 (1) may invest and reinvest funds that are held in trust, other than funds held in the public employee trust fund, solely to provide any of the following benefits, in the same manner as is authorized for investments under
s. 881.01:
66.0603(1m)(b)5.a.
a. Post-employment health care benefits provided either separately or through a defined benefit pension plan.
66.0603(1m)(b)5.b.
b. Other post-employment benefits provided separately from a defined benefit pension plan.
66.0603(1m)(b)6.
6. Funds that are held in trust to provide the benefits described in
subds. 3. and
5. shall be held in a trust fund that is separate from all other trust funds created by, or under the control of, the local governmental unit.
66.0603(1m)(c)
(c) A local government, as defined under
s. 25.50 (1) (d), may invest surplus funds in the local government pooled-investment fund. Cemetery care funds, including gifts where the principal is to be kept intact, may also be invested under
ch. 881.
66.0603(1m)(d)
(d) A county, city, village, town, school district, drainage district, technical college district or other governing board as defined by
s. 34.01 (1) may engage in financial transactions in which a public depository, as defined in
s. 34.01 (5), agrees to repay funds advanced to it by the local government plus interest, if the agreement is secured by bonds or securities issued or guaranteed as to principal and interest by the federal government.
66.0603(1m)(e)
(e) Subject to
s. 67.11 (2) with respect to funds on deposit in a debt service fund for general obligation promissory notes issued under
s. 67.12 (12), a county having a population of 500,000 or more, or a person to whom the county has delegated investment authority under
sub. (5), may invest and reinvest in the same manner as is authorized for investments and reinvestments under
s. 881.01, any of the following:
66.0603(1m)(e)2.
2. Moneys held in a fund or account, including any reserve fund, created in connection with the issuance of appropriation bonds under
s. 59.85 or general obligation promissory notes under
s. 67.12 (12) issued to provide funds for the payment of all or a part of the county's unfunded prior service liability.
66.0603(1m)(e)3.
3. Moneys appropriated or held by the county to pay debt service on appropriation bonds or general obligation promissory notes under
s. 67.12 (12).
66.0603(1m)(e)4.
4. Moneys constituting proceeds of appropriation bonds or general obligation promissory notes described in
subd. 2. that are available for investment until they are spent.
66.0603(1m)(f)
(f) Subject to
s. 67.11 (2) with respect to funds on deposit in a debt service fund for general obligation promissory notes issued under
s. 67.12 (12), a 1st class city, or a person to whom the city has delegated investment authority under
sub. (5), may invest and reinvest in the same manner as is authorized for investments and reinvestments under
s. 881.01, any of the following:
66.0603(1m)(f)2.
2. Moneys held in a fund or account, including any reserve fund, created in connection with the issuance of appropriation bonds under
s. 62.62 or general obligation promissory notes under
s. 67.12 (12) issued to provide funds for the payment of all or a part of the city's unfunded prior service liability.
66.0603(1m)(f)3.
3. Moneys appropriated or held by the city to pay debt service on appropriation bonds or general obligation promissory notes under
s. 67.12 (12).
66.0603(1m)(f)4.
4. Moneys constituting proceeds of appropriation bonds or general obligation promissory notes described in
subd. 2. that are available for investment until they are spent.
66.0603(2)
(2) Delegation of investment authority. A county, city, village, town, school district, drainage district, technical college district or other governing board, as defined in
s. 34.01 (1), may delegate the investment authority over any of its funds not immediately needed to a state or national bank, or trust company, which is authorized to transact business in this state if all of the following conditions are met:
66.0603(2)(b)
(b) The governing board renews annually the investment agreement under which it delegates its investment authority, and reviews annually the performance of the institution with which its funds are invested.
66.0603(3)
(3) Additional delegation of investment authority. 66.0603(3)(a)(a) In addition to the authority granted under
sub. (2), a school district operating under
ch. 119 may delegate the investment authority over any of its funds not immediately needed and held in trust for its qualified pension plans to an investment manager who meets the requirements and qualifications specified in the trust's investment policy and who is registered as an investment adviser under the Investment Advisers Act of 1940,
15 USC 80b-3.
66.0603(3)(b)
(b) In addition to the authority granted under
sub. (2), a school district may delegate the investment authority over the funds described under
sub. (1m) (b) 3. to an investment manager who meets the requirements and qualifications specified in the trust's investment policy and who is registered as an investment adviser under
15 USC 80b-3.
66.0603(3)(c)1.1. In addition to the authority granted under
sub. (2), a city, village, town, county, drainage district, technical college district, or other governing board as defined by
s. 34.01 (1) may delegate the investment authority over the funds described under
sub. (1m) (b) 5. to an investment manager who meets the requirements and qualifications specified in the trust's investment policy and who is registered as an investment adviser under
15 USC 80b-3.
66.0603(3)(c)2.
2. If a unit of government described under
subd. 1. has established a trust described in
sub. (1m) (b) 5., it shall annually publish a written report that states the amount in the trust, the investment return earned by the trust since the last report was published, the total disbursements made from the trust since the last report was published, and the name of the investment manager if investment authority has been delegated under
subd. 1.
66.0603(4)
(4) Invested fund proceeds in populous cities, use. In a 1st class city, all interest derived from invested funds held by the city treasurer in a custodial capacity on behalf of any political entity, except for pension funds, is general revenue of the city and shall revert to the city's general fund upon the approval by the political entity evidenced by a resolution adopted for that purpose.
66.0603(5)
(5) Delegation of investment authority in connection with pension financing in populous cities and counties. The governing body of a county having a population of 500,000 or more, or a 1st class city, may delegate investment authority over any of the moneys described in
sub. (1m) (e) or
(f) to any of the following persons, which shall be responsible for the general administration and proper operation of the county's or city's employee retirement system, subject to the governing body's finding that such person has expertise in the field of investments:
66.0603(5)(a)
(a) A public board that is organized for such purpose under county or city ordinances.
66.0603(5)(b)
(b) A trustee, investment advisor, or investment banking or consulting firm.
66.0603 Cross-reference
Cross-reference: See also s.
157.50 (6) as to investment of municipal care funds.
66.0605
66.0605
Local government audits and reports. Notwithstanding any other statute, the governing body of a county, city, village or town may require or authorize a financial audit of a municipal or county officer, department, board, commission, function or activity financed in whole or part from municipal or county funds, or if any portion of the funds are the funds of the county, city, village or town. The governing body may require submission of periodic financial reports by the officer, department, board, commission, function or activity.
66.0605 History
History: 1977 c. 29;
1999 a. 150 s.
97; Stats. 1999 s. 66.0605.
66.0607
66.0607
Withdrawal or disbursement from local treasury. 66.0607(1)(1) Except as otherwise provided in
subs. (2) to
(5) and in
s. 66.0608, in a county, city, village, town, or school district, all disbursements from the treasury shall be made by the treasurer upon the written order of the county, city, village, town, or school clerk after proper vouchers have been filed in the office of the clerk. If the statutes provide for payment by the treasurer without an order of the clerk, the clerk shall draw and deliver to the treasurer an order for the payment before or at the time that the payment is required to be made by the treasurer. This section applies to all special and general provisions of the statutes relative to the disbursement of money from the county, city, village, town, or school district treasury except
s. 67.10 (2).
66.0607(2)
(2) Notwithstanding other law, a county having a population of 500,000 or more may, by ordinance, adopt any other method of allowing vouchers, disbursing funds, reconciling outstanding county orders, reconciling depository accounts, examining county orders, and accounting consistent with accepted accounting and auditing practices, if the ordinance prior to its adoption is submitted to the department of revenue, which shall submit its recommendations on the proposed ordinance to the county board of supervisors.
66.0607(3)
(3) Except as provided in
subs. (2),
(3m) and
(5), disbursements of county, city, village, town or school district funds from demand deposits shall be by draft or order check and withdrawals from savings or time deposits shall be by written transfer order. Written transfer orders may be executed only for the purpose of transferring deposits to an authorized deposit of the public depositor in the same or another authorized public depository. The transfer shall be made directly by the public depository from which the withdrawal is made. No draft or order check issued under this subsection may be released to the payee, nor is the draft or order check valid, unless signed by the clerk and treasurer. No transfer order is valid unless signed by the clerk and the treasurer. Unless otherwise directed by ordinance or resolution adopted by the governing body, a certified copy of which shall be filed with each public depository concerned, the chairperson of the county board, mayor, village president, town chairperson or school district president shall countersign all drafts or order checks and all transfer orders. The governing body may also, by ordinance or resolution, authorize additional signatures. In lieu of the personal signatures of the clerk and treasurer and any other required signature, the facsimile signature adopted by the person and approved by the governing body may be affixed to the draft, order check or transfer order. The use of a facsimile signature does not relieve an official from any liability to which the official is otherwise subject, including the unauthorized use of the facsimile signature. A public depository is fully warranted and protected in making payment on any draft or order check or transferring pursuant to a transfer order bearing a facsimile signature affixed as provided by this subsection notwithstanding that the facsimile signature may have been affixed without the authority of the designated persons.
66.0607(3m)
(3m) A county, city, village, town or school district may process periodic payments through the use of money transfer techniques, including direct deposit, electronic funds transfer and automated clearinghouse methods. The county, municipal or school district treasurer shall keep a record of the date, payee and amount of each disbursement made by a money transfer technique.
66.0607(4)
(4) Except as provided in
sub. (3m), if a board, commission or committee of a county, city, village, town or school district is vested by statute with exclusive control and management of a fund, including the audit and approval of payments from the fund, independently of the governing body, payments under this section shall be made by drafts or order checks issued by the county, city, village, town or school clerk upon the filing with the clerk of certified bills, vouchers or schedules signed by the proper officers of the board, commission or committee, giving the name of the claimant or payee, and the amount and nature of each payment.
66.0607(5)
(5) In a 1st class city, municipal disbursements of public moneys shall be by draft, order, check, order check or as provided under
sub. (3m). Checks or drafts shall be signed by the treasurer and countersigned by the comptroller. Orders shall be signed by the mayor and clerk and countersigned by the comptroller, as provided in the charter of the city. Disbursements of school moneys shall be as provided by
s. 119.50.
66.0607(6)
(6) Withdrawal or disbursement of moneys deposited in a public depository as defined in
s. 34.01 (5) by a treasurer as defined in
s. 34.01 (7), other than the elected, appointed or acting official treasurer of a county, city, village, town or school district, shall be by endorsement, written order, draft, share draft, check or other draft signed by the person or persons designated by written authorization of the governing board as defined in
s. 34.01 (1). The authorization shall conform to any statute covering the disbursement of the funds. A public depository is fully warranted and protected in making payment in accordance with the latest authorization filed with it.
66.0607(7)
(7) No order may be issued by a county, city, village, town, special purpose district, school district, cooperative education service agency or technical college district clerk in excess of funds available or appropriated for the purposes for which the order is drawn, unless authorized by a resolution adopted by the affirmative vote of two-thirds of the entire membership of the governing body.
