The calendar year shall be the fiscal year.
No money shall be drawn from the Treasury of the Village, nor
shall any obligation for the expenditure of money be incurred, except
in pursuance of the annual resolution, or of such resolution when
changed as authorized by sub. (3) above. At the close of each fiscal
year, any unencumbered balance of an appropriation shall revert to
the general fund and shall be subject to reappropriation; but appropriations
may be made by the Village Board, to be paid out of the income of
the current year, in furtherance of improvements or other objects
or works which will not be completed within such year, and any such
appropriation shall continue in force until the purpose for which
it was made shall have been accomplished or abandoned.
All claims shall be reviewed by the Clerk-Treasurer and approved
by the Village Board before payment, except that the Clerk-Treasurer
may make such immediate payments as may be necessary for weekly or
semi-monthly payrolls, social security and health and life insurance
premiums, contracted services and utility bills.
No equipment or supplies shall be purchased by any person unless
previously budgeted and approved by the Village Board. However, emergency
purchases not to exceed $500 may be approved by the Village President.
All disbursements of the Village shall be by order check which
shall not be valid unless signed by the Village President and the
Clerk-Treasurer.
If personal property is sold, the seller, at the time of sale,
shall pay to the Clerk-Treasurer 1/2 of the taxes assessed against
the property for the calendar year preceding the year in which the
sale is made multiplied by the number of months in the calendar year
of the sale which have elapsed before the date of sale, including
the month in which the sale is made if the sale occurs after the 15th
day of the month. The buyer is liable for any remaining amount of
personal property taxes levied upon the property.
Chapter 74, Wis. Stats., is hereby adopted by reference as if
fully set forth herein and shall apply to any finance and taxation
authority, procedure, right, obligation or settlement of the Village
required to be performed by the Village Board or, by its direction
or law, by the Clerk-Treasurer.