Let's discuss issues for Cady Township. This blog accepts contributions from all Cady residents so just contact James if you would like to contribute.
Friday, October 19, 2012
2013 budget
The proposed 2013 budget has levy of $220,175 total revenue/expenses of $430,387. It will be discussed and voted on by the town voters (at least the levy and highway expenditures) on November 5th starting at 8 pm.
If you fill out the "2012 MUNICIPAL LEVY LIMIT WORKSHEET" at the WI Department of Revenue, you can see that the maximum legal levy that the state will allow is $220,175. This is exactly what the board is asking for. According to the 2013 budget this will allow $52,000 to be carried over in savings, which amounts to 23.6% of the total levy.
Last year the town passed the maximum allowable levy of $219,376.00.
According to the budget, the carryover from 2012 to 2013 is $52,427. According to CHAPTER 8 OF THE LEAGUE OF WISCONSIN MUNICIPALITIES’ HANDBOOK FOR WISCONSIN MUNICIPAL OFFICIALS, "in general, municipalities may not accumulate unappropriated surplus funds." [snip] "In Immega v. City of Elkhorn, 253 Wis. 282, 34 N.W.2d 101 (1948), the Wisconsin Supreme Court held that year-end balances in accounts, if not designated for any particular purpose, must be considered "funds on hand" under sec. 65.90(1), Stats., and used to defray budgetary costs and reduce the tax levy for the ensuing year."
Does that not mean that the extra $52,427 should be used to reduce the tax levy?
If you fill out the "2012 MUNICIPAL LEVY LIMIT WORKSHEET" at the WI Department of Revenue, you can see that the maximum legal levy that the state will allow is $220,175. This is exactly what the board is asking for. According to the 2013 budget this will allow $52,000 to be carried over in savings, which amounts to 23.6% of the total levy.
ReplyDeleteLast year the town passed the maximum allowable levy of $219,376.00.
...that is the maximum legal levy for the Town of Cady. Each town is different by the way.
ReplyDeleteAccording to the budget, the carryover from 2012 to 2013 is $52,427. According to CHAPTER 8 OF THE LEAGUE OF WISCONSIN MUNICIPALITIES’ HANDBOOK FOR WISCONSIN
ReplyDeleteMUNICIPAL OFFICIALS, "in general, municipalities may not accumulate unappropriated surplus funds."
[snip]
"In Immega v. City of Elkhorn, 253 Wis. 282, 34 N.W.2d 101 (1948), the Wisconsin Supreme Court held that year-end balances in accounts, if not designated for any particular purpose, must be considered "funds on hand" under sec. 65.90(1), Stats., and used to defray budgetary costs and reduce the tax levy for the ensuing year."
Does that not mean that the extra $52,427 should be used to reduce the tax levy?