[Adopted 3-1-1993 by Ord. No. 2-93 (§§ 4.01 through 4.09, 4.12 through 4.20 of the 1993 Municipal Code)]
A. 
Aggregate tax stated on roll. Pursuant to § 70.65(2), Wis. Stats., the City Administrator/Clerk shall, in computing the tax roll, insert only the aggregate amount of state, county, local, school and other general property taxes minus credits applied under § 79.10(9), Wis. Stats., except credits determined under § 79.10(7m), Wis. Stats., in a single column in the roll opposite the parcel or tract of land against which the tax is levied or, in the case of personal property, in a single column opposite the name of the person against whom the tax is levied. Each tax bill or receipt shall show the purpose for which the taxes are to be used giving the breakdown for state, county, local, school and other general property taxes. The tax roll shall indicate all corrections made under §§ 70.43 and 70.44, Wis. Stats.
B. 
Tax receipts. Pursuant to § 74.19, Wis. Stats., the City Administrator/Clerk shall enter in each tax receipt given by the County Clerk for the payment of taxes the name of the person paying the taxes, the date of payment and the aggregate amount of taxes paid. Tax receipts shall be signed, and a duplicate kept, by the City Administrator/Clerk after noting the payment of taxes upon the tax roll. The Administrator/Clerk shall then deliver the receipt to the appropriate person. If requested under § 74.09(3)(g), the taxation district treasurer shall mail a copy of the tax receipt to the requester.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
The City elects not to give the bond on the Finance Director/Treasurer provided for by § 70.67(1), Wis. Stats.
Pursuant to § 70.67(2), Wis. Stats., the City shall be obligated to pay, in case the Finance Director/Treasurer shall fail to do so, all state and county taxes required by law to be paid by the Finance Director/Treasurer to the County Treasurer.
A. 
Claims to be certified. Prior to submission of any account, demand or claim to the City Council for approval of payment, the Finance Director/Treasurer shall certify or cause to be endorsed thereon or on attached papers, that the following conditions have been complied with:
(1) 
That funds are available pursuant to the budget.
(2) 
That the item or service was duly authorized by the proper official or agency and has been received or rendered in accordance with the purchasing agreement.
(3) 
That the claim is accurate in amount and a proper charge against the Treasury.
B. 
City Council to audit accounts.
(1) 
No account or demand against the City, except as provided in § 55-4C of this section, shall be paid until it has been audited by the City Council. Every such account shall be itemized and certified as provided in § 55-4A.
(2) 
After auditing, the City Council shall cause to be endorsed by the Finance Director/Treasurer, on each account, the words "allowed" or "disallowed", as the fact is, adding the amount allowed or specifying the items or parts of items disallowed. The minutes of the proceedings of the Council or a statement attached hereto shall show to whom and for what purpose every such account was allowed and the amount.
C. 
Payment of regular wages or salaries. Regular wages or salaries of City officers and employees shall be paid by payroll, verified by the proper City official, department head, board or commission, and filed with the Finance Director/Treasurer in time for payment on the regular payday.
D. 
Method of incurring claims. All actions of the City Council appropriating money or creating a charge against the City, other than claims for purchases or work previously authorized by the Council, shall only be acted upon at the next regular meeting after introduction, provided that this rule may be suspended by affirmative vote of three-fourths of all members of the Council. A roll call vote shall be taken and recorded on all appropriations.
A. 
Departmental estimates. On or before the date designated by the City Administrator and Finance Director, each officer, department and committee shall file with the Finance Director an estimate in detail of the department's needs for the ensuing fiscal year. Such statements shall be presented in the form prescribed by the Finance Director and shall be designated as "departmental estimates" and shall be as nearly uniform as possible for the main divisions of all departments.
B. 
City Administrator to prepare.
(1) 
Budget to include. The City Administrator and Finance Director shall prepare and submit to the Council a proposed budget presenting a financial plan for conducting the affairs of the City for the ensuring calendar year. The budget shall include the following information:
(a) 
The expense of conducting each department and activity of the City for the ensuing fiscal year and corresponding items for the current year and last preceding fiscal year, with reasons for increase and decrease recommended as compared with appropriations for the current year.
(b) 
An itemization of all anticipated income of the City from sources other than general property taxes and bonds issued, with a comparative statement of the amounts received by the City from each of the same or similar sources for the last preceding and current fiscal year.
(c) 
All existing indebtedness of the City, including the amount of interest payable and principal to be redeemed on any outstanding general obligation bonds of the City and any estimated deficiency in the sinking fund of any such bonds during the ensuing fiscal year.
(d) 
An estimate of the amount of money to be raised from general property taxes which, with income from other sources, will be necessary to meet the proposed expenditures.
(e) 
Such other information as may be required by the Council and by state law.
C. 
Copies. The City shall provide a reasonable number of copies of the budget thus prepared for distribution to citizens.
D. 
Hearing.
(1) 
The City Administrator shall submit to the Council at the time the annual budget is submitted the draft of an appropriation resolution providing for the expenditures proposed for the ensuing fiscal year. Upon the submission of the proposed appropriation resolution to the Council, it shall be deemed to have been regularly introduced therein.
(2) 
A summary of such budget and notice of the time and place where such budget in detail is available for public inspection and the time and place for holding a public hearing thereon shall be published as a Class 1 notice, under Wis. Stats., Ch. 985, in the official newspaper of the City at least 15 days prior to the time of such public hearing.
(3) 
Not less than 15 days after the publication of the proposed budget and the notice of hearing thereon, a public hearing shall be held at the time and place stipulated, at which time any resident or taxpayer of the City shall have an opportunity to be heard on the proposed budget. The budget hearing may be adjourned from time to time.
(4) 
After any alterations made pursuant to the public hearing, the Council shall adopt by a majority vote the amount of tax to be levied and the amounts of the appropriations and the purposes for such appropriations stated in the budget. Such vote shall constitute an appropriation of the items therein stated and the final budget for the ensuing year.
[Amended by Ord. No. 02-18]
The City Budget Document is organized by fund, function, activity, and object. Management may not overspend funds without a budget amendment approved by the City Council at the function level for the general fund and at the individual fund level for Special Revenue, Debt Service, and Capital Projects Funds. The following are the function categories in the general fund: General Government, Public Safety, Public Works, Health and Human Services, Culture and Recreation, and Conservation and Development. The subcategories within each function represent the activity level of expenditure. The detailed accounts within each activity represent the object level of expenditure.
A. 
Upon recommendation of the Finance Committee, the Council may, at any time by a two-thirds-vote of the entire membership, transfer any portion of an unencumbered balance of an appropriation to any other function. Notice of such transfer shall be published as a Class 1 notice, under Wis. Stats., Ch. 985, within 15 days thereafter in the official City newspaper pursuant to Wis. Stats., § 65.90.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
B. 
A department head may submit for approval by the City Administrator, a transfer of appropriations between activities under the department head's control. The City Administrator may approve such transfers, provided the amount does not exceed $3,000 and it does not reestablish any position, program, or capital item which was specifically deleted from the budget by the Council. Transfer requests in excess of $3,000 or requests to establish a new program or capital item must be presented to the Finance Committee for recommendation to the City Council.
[Amended by Ord. No. 02-18]
No money shall be drawn from the Treasury of the City, nor shall any obligation for the expenditure of money be incurred, except in pursuance of the annual appropriation in the adopted budget or when changed as authorized by § 55-6. 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 Council, to be paid out of the income of the current year, in furtherance of improvements of 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.
See Chapter 125, Records, § 125-7.
A. 
No order check for a municipal disbursement shall be valid unless signed or a facsimile signature is provided by the Mayor and City Administrator/Clerk.
B. 
The City depositories are prohibited from accepting and paying checks unless so signed, nor shall they receive credit therefor in any settlement with the City unless so executed, provided the adoption and use of facsimile signatures for the Mayor and City Administrator/Clerk is hereby approved.
The establishment of a formal policy governing the purpose and acceptable parameters of fund balance levels is an effective contribution to the financial management practices of a municipality. A formally adopted policy shall help eliminate any ambiguity regarding what constitutes an appropriate purpose for maintaining available fund balances.
A. 
The City shall establish an emergency reserve to pay for needs caused by unforeseen emergencies. This reserve shall be maintained at 5% of the general operating fund revenues.
B. 
The City shall establish a contingency reserve to provide for unanticipated expenditures of a nonrecurring nature, or to meet unexpected small increases in service delivery costs. This reserve shall be maintained at 0.5% of the general operating fund.
C. 
The City shall establish a capital reserve fund and shall appropriate funds to it annually to provide for timely replacement of equipment and other capital projects. The amount in the reserve shall be maintained at $100,000. This amount shall be reviewed on an annual basis to determine its ongoing adequacy, and if deemed necessary modified accordingly by resolution of the City Council.
D. 
The City shall establish a working capital reserve to provide sufficient working cash balances. This shall eliminate the need for any short-term borrowing which may be necessitated by any timing lapse between receipt of short-term receivables and remittance of short-term payables. This reserve shall be maintained at an amount equivalent to at least 10% of the general operating fund revenues.
E. 
Interfund transfers to cover shortfalls should not be a standard policy. If interfund transfers prove necessary after implementation of the above reserves, each reserve amount as stated above should be adjusted in subsequent years to eliminate the need therefore.
F. 
If shall be the responsibility of the Finance Director/Treasurer to monitor aforementioned reserve balances on a monthly basis and report to the Council material deviations therefrom.
(1) 
To maintain the above fund balances, the City shall:
(a) 
Eliminate the budgeted use of fund balance if said use would reduce fund balance below policy minimums.
(b) 
Apply remaining unexpended general fund resources at the end of each fiscal year to add to the cash portion of the reserves if necessary to meet policy minimums.
(c) 
Encourage using a portion of the tax levy generated by equalized valuation which may be higher than used for budget development to add to the cash portion of the reserves if necessary to meet policy minimums.
In the absence of sound debt issuance and management policies, it is very difficult for public officials to accurately evaluate the long-term consequences of funding decisions. The consistent application of carefully developed debt management policies shall benefit the City in a number of areas. Foremost among these benefits is enhanced credit quality and improved access to the credit market, resulting in the City's ability to incur debt at favorable interest rates in the amounts necessary to fulfill its obligations and prescribed responsibilities.
A. 
The City shall confine long-term borrowing to projects as defined in § 67.04, Wis. Stats.
B. 
When the City finances capital projects by issuing bonds or notes, it should strive to pay back the bonds and notes within a period not to exceed the expected useful life of the project. Maximum term for equipment should be five years. Maximum term for remodeling should be 10 years. Maximum term for streets, sewers and other improvements to land should be 15 years. Maximum term for acquisition of land in new building construction should be no more than 20 years.
C. 
In accordance with Article XI, Section 3 of the Wisconsin Constitution and § 67.07, Wis. Stats., the City shall keep the maximum maturity of general obligation bonds at or below the legally defined limit of 20 years. The City shall structure debt issues to insure timely payback of principal. Principal retirement shall strive to keep annual principal and interest payments for each issue either level or decreasing. The City should strive to keep the average maturity of any general obligation bond issue to not exceed 14 years.
D. 
The City's goal shall be to maintain total annual debt service at a maximum level of 25% of total annual general operating revenue. Total annual debt service for general obligation debt shall in no case exceed 50% of total annual generated operating revenue per current legally defined limits.
E. 
Total general obligation debt shall not exceed 5% of the equalized value pursuant to Article XI, Section 3 of the Wisconsin Constitution and § 67.03(1), Wis. Stats. The City shall strive to maintain a level of general obligation debt equivalent to not more than 75% of its legal limit as defined above.
F. 
Where possible, the City shall strive to use special assessment bonds pursuant to §§ 66.0709, 66.0711, 66.0713, 66.0715, and 67.16, Wis. Stats., or revenue obligations pursuant to § 66.0621, Wis. Stats., or other self-supporting bonds instead of general obligations pursuant to § 67.16, Wis. Stats. to more equitably distribute the costs of services to the benefactors thereof.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
G. 
The City shall not use long-term debt for current operations.
H. 
The City shall retire any tax anticipation debt annually pursuant to § 67.12(1)(a), Wis. Stats.
I. 
The City shall maintain good communications with bond rating agencies about its financial condition. The City shall follow a policy of full disclosure on every financial report and bond prospectus and respond to any reasonable request by financial advisors and/or underwriters for ongoing disclosure to fully comply with SEC 15(c)2-12 disclosure rule or any future federal or state disclosure regulations.
The City shall maintain a minimum level of taxation which shall allow for the responsible execution of its prescribed mission to operate the City in a cost efficient and responsible manner. The City shall actively manage its property tax millage rate to eliminate unnecessary annual fluctuations. Wherever possible the City shall seek to match its sources of revenue with specific benefactors of associated services.
A. 
The City shall try to maintain a diversified and stable revenue system to shelter it from short-run fluctuations in any one revenue source.
B. 
The City shall estimate its annual revenues by an objective, analytical process.
C. 
The City shall project revenues for the next five years and shall update this projection annually. Each existing and potential revenue source shall be reexamined annually.
D. 
The City shall maintain sound appraisal procedures to keep property values current. Reassessments shall be made of all property at least every four years to insure compliance with applicable law. During each reassessment, the City shall strive to assess property as near as possible to 100% of full market value.
E. 
The year-to-year increase of actual revenue from the property tax for general operations shall generally not exceed the inflation factor percent.
F. 
The City shall establish all user charges and fees for enterprise fund accounts at a level related to the cost of providing the services and maintenance of acceptable level of return to utility base.
G. 
Intergovernmental grants shall generally not exceed 15% of the current operating budget.
H. 
The amount of funds necessary to match intergovernmental grants shall generally not exceed 7.5% of current operating budget.
A. 
It is hereby recognized that the implementation of all investment policy statements stipulated herein shall be within the parameters of permitted legal investments under § 66.0603(1m), Wis. Stats., and governed by the following hierarchial criteria listed in order of relative priority:
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
(1) 
Safety of principal of investment.
(2) 
Liquidity of investment without penalty.
(3) 
Yield of investment.
B. 
The City shall make a cashflow analysis of all funds on a regular basis. Disbursement, collection and deposit of all funds shall be scheduled to insure maximum cash availability.
C. 
When permitted by law, the City shall pool cash from several different funds for investment purposes.
D. 
The City shall invest at least 95% of its idle cash on a continuous basis.
E. 
The City shall analyze market conditions and investment securities daily to determine what yield can be obtained.
F. 
The City shall obtain the best possible return of all cash investments.
G. 
The accounting system shall provide regular information concerning cash position and investment performance.
The City recognizes the need for fair, consistent and understandable financial reporting, so that 1) city residents shall be kept accurately apprised of their government's operations; 2) government officials shall have necessary information to utilize for comparative analysis during the financial decision making process; and 3) outside entities, e.g., banks, underwriters, credit agencies, etc., shall have requisite information to facilitate any necessary debt issuance.
A. 
The City shall establish and maintain a high standard of accounting practices.
B. 
The accounting system shall maintain records on a basis consistent with accepted standards for local government accounting and generally accepted accounting principles (GAAP), including proper accounting for fixed assets.
C. 
Regular monthly and annual financial reports shall present a summary of financial activity by major types of funds.
D. 
Where possible, the reporting system shall also provide monthly information on the total cost of specific services by type of expenditure and if necessary, by fund. This report shall include a comparison to last years expenditures.
E. 
An independent public accounting firm shall perform any annual audit and shall publicly issue a financial opinion.
F. 
Remedial actions necessary to eliminate any exceptions or qualifications referenced in auditor's opinion statement shall be taken immediately upon notification thereof.
A properly drafted capital improvement plan insures that today's needs are considered in light of tomorrow's expectations. It is of paramount importance that decisions involving large outlays of public funds be made within the confines of a long-term planning horizon. This is exceptionally critical for projects whose useful life shall typically outlast the tenure of today's decisionmakers.
A. 
The City shall make all capital improvements in accordance with an adopted capital improvement program.
B. 
The City shall develop a five-year plan for capital improvements and update it annually.
C. 
The City shall enact an annual capital budget based on the multiyear capital improvement plan. Future capital expenditures necessitated by changes in population, changes in real estate development, or changes in economic base shall be calculated and included in capital budget projections.
D. 
The City shall coordinate development of the capital improvement budget with development of the operating budget. Future operating costs associated with new capital improvement shall be projected and included in operating budget forecasts.
E. 
The City shall use intergovernmental assistance to finance only those capital improvements that are consistent with the capital improvement plan and City priorities, and whose operating and maintenance costs have been included in operating budget forecasts.
F. 
The City shall maintain all its assets at a level adequate to protect the City's capital investment and to minimize future maintenance and replacement costs.
G. 
The City shall project its equipment replacement and maintenance needs for the next five years and shall update this projection each year. From this projection a maintenance and replacement schedule shall be developed and followed.
H. 
The City shall identify the estimated costs and potential funding sources for each capital project proposal before it is submitted to Council for approval.
I. 
The City shall utilize the least costly financing method for all new projects after taking into consideration the appropriate form of debt as outlined in the debt policy statements, e.g., general obligation, revenue, etc.
J. 
The Finance Director/Treasurer shall be responsible for maintaining all fixed assets records to be included in the "General Fixed Asset Account Group."
K. 
It shall be the ultimate responsibility of the Council to review all potential capital projects and determine final prioritization of needs and subsequent inclusion or elimination of each project from capital improvement plan.
The objectives of the purchasing policy are 1) to ensure purchases are authorized by the designated responsible party as specified in § 55-16E through J; 2) to procure quality goods and services at a competitive price; and 3) to obtain and pay for purchases in a timely fashion. The purchasing policy shall be followed by any City department or utility which is funded in whole or in part by the taxpayers or ratepayers. The intentional staggering or dividing of purchases and/or contracts to evade the purchasing policy is strictly prohibited. All costs associated with an item, such as shipping charges, assembly, and equipment additions shall be included in the estimated cost of an item. For the purposes of the purchasing policy, "budgeted items" are considered to be routine operating purchases of goods and services and nonroutine capital items specifically identified in the current budget document.
A. 
Responsibility of Finance Director/Treasurer.
(1) 
Ensure funds are available for purchases pursuant to the budget.
(2) 
Ensure the demand or account is accurate in amount and a proper charge against the Treasury.
(3) 
Ensure the goods or services were duly authorized by the designated responsible party and have been received or rendered to the satisfaction of the City.
B. 
Finance Committee. No account or demand against the City, except as provided for in Chapter 86, Mayor and Council, shall be paid until it has been audited.
C. 
Payment of regular wages or salaries and approved City contracts. Regular wages or salaries of City officers and employees shall be paid by payroll, verified by the Finance Director/Treasurer and department head. City contracts shall be paid in a timely fashion as spelled out in the contract once approved by the City Council.
D. 
Purchases of budgeted items of $2,500 or less. If the estimated price of an item is $2,500 or less and is budgeted, the appropriate department head is authorized to purchase said item. If the item is over $2,500, the department head shall make every effort to obtain three quotes for the item. The quotes shall be presented to the Finance Director/Treasurer for approval prior to ordering the item. Whenever it is in the best interest of the City, the purchase shall be made based on the lowest quote. If the purchase is not made based on the lowest quote, documentation must be maintained on file to support the decision to purchase from a vendor other than the lowest quote.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
E. 
Purchases of budgeted items more than $2,500 and less than $5,000. For the purchase of a budgeted item involving an estimated expenditure more than $2,500 and less than $5,000, the appropriate department head must make every effort to solicit enough quotes in order to receive at least three. The quotes shall be presented to the City Administrator for approval prior to ordering the item. Whenever it is in the best interest of the City, the purchase shall be made based on the lowest quote. If the purchase is not made based on the lowest quote, the purchase must be presented for approval to the Finance Committee and City Council.
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. II)]
F. 
Purchases of nonbudgeted items or services over $500. If the price of an item is over $500 and the item is not included in the current budget and is not a routine operating expenditure, the appropriate department head must make every effort to solicit enough quotes in order to receive at least three. The quotes must be presented for approval to the Finance Committee and City Council.
G. 
Emergency purchases of non-budgeted items over $500. Emergency purchases shall only be made 1) to prevent delays in construction or delivery of service or 2) to stay an immediate threat to the health or safety of the public and employees. For emergency purchases of nonbudgeted items or services with an estimated cost over $500, the appropriate department head shall make every effort to obtain three quotes for the item. The purchase shall be approved by the City Administrator prior to ordering the item. In the City Administrator's absence, the purchase shall be approved by the Finance Director/Treasurer prior to ordering the item.
H. 
Purchases of $5,000 or more not covered by § 62.15, Wis. Stats. Every effort must be made to send out enough bids or quotation requests in order to receive a minimum of three in order that the proper Council committee and/or Finance Committee can make a recommendation to Council. Appropriate notices shall be published, plans and specifications shall be distributed, and bids or quotations shall be opened and examined and a report shall be made to the appropriate Council Committee concerning the bids or quotations received. The report shall contain a recommendation concerning the bid or quotation to be accepted or rejected. If a bid or quotation other than the lowest bid or quotation is recommended, the report shall state the reasons for such recommendation which shall be forwarded to Finance Committee for their disposition. Any project receiving only one bid shall be rebid unless it is approved by a three-fourths-vote of the Council. The City has the right to reject any and all quotes and/or bids.
I. 
Public construction of $5,000 but not more than $25,000. All public construction, as defined in §§ 62.15 and 66.0901, Wis. Stats., the estimated cost of which exceeds $5,000 but is not greater than $25,000, shall be let to the contractor submitting the lowest responsible quote; provided, however, that there shall be a Class 1 notice, under Ch. 985, Wis. Stats., of the proposed construction before the contract for the construction is executed. The Council may also, by a vote of three-fourths of all the members, authorize that any public construction be done directly by the City without submitting the same for bids. Any project receiving only one bid shall be rebid unless it is approved by a three-fourths vote of the Council. The City has the right to reject any and all quotes and/or bids.
J. 
Public construction over $25,000. All public construction in which the estimated cost exceeds $25,000 shall be let by contract to the lowest responsible bidders. The bidding process shall incorporate the requirements in §§ 62.15 and 66.0901, Wis. Stats. Any project receiving only one bid shall be rebid unless it is approved by a three-fourths vote of the Council, the City has the right to reject any and all quotes and/or bids.
[Amended by Ord. No. 01-08]
K. 
Change orders on public construction contracts. Whenever it is reasonably possible, a proposed increase in the cost of a public construction contract resulting from a change in the scope of the project shall be presented to the Finance Committee and City Council for approval, provided that it will not result in a costly delay to the construction project. If the cost of delaying the project is prohibitive, change orders which are a result of a change in the scope of the project shall be approved by the appropriate department head and the City Administrator. All change orders must be approved by the Finance Committee and City Council prior to final payment on the contract.
[Amended by Ord. No. 02-08]
[Amended by Ord. No. 98-5]
A. 
Definition. As used in this section, the following terms shall have the meanings indicated:
CONTRACTED PROFESSIONAL SERVICES
All professional services not otherwise provided by the City of Edgerton staff. Such professional services include but are not limited to the following:
(1) 
Assessor, City Attorney, auditor, financial consultants, engineer, cleaning services, and recyclable and garbage collection services.
B. 
Evaluation of services. The City shall annually review the performance of all providers of professional services. At anytime, a majority of the City Council may choose to request proposals following the selection process in § 55-17C.
C. 
Selection process.
(1) 
Request for proposals (RFP) shall be submitted to a sufficient number of entities providing the required professional services, so that the Finance Committee and/or committees of jurisdiction may interview three professionals providing the required services.
(2) 
RFPs shall at least require the submission of references, background of staff and company history. Additional requirements may be required by the City Administrator/Clerk or Finance Director/Treasurer.
(3) 
Committees of jurisdiction shall make a selection and make a recommendation to the Mayor. Appointment shall be made as provided in Chapter 101, Officers and Employees, Article III, Appointed Officials.
D. 
Term of contract. A one-year probationary provision shall be incorporated into all contracts with new providers.
E. 
Contracts in writing. All services provided should be under written contract. An accepted proposal signed by both parties is acceptable in lieu of a written contract.
[Amended by Ord. No. 96-12]
A. 
Prior to the approval of any legal expenditure for buildings or equipment that exceeds 7% of the current general fund operating budget for the City of Edgerton, excluding sewer and water utility, an expenditure must be submitted to the electors of the City of Edgerton in a special binding referendum.
B. 
The referendum procedures shall be as set forth in § 67.05(3), Wis. Stats.
C. 
That contrary provisions of any of the ordinances of the City Code shall be and hereby are repealed.
D. 
This section is adopted by a Charter ordinance and shall take effect after its passage and publication as it was approved by a majority of the electors voting thereon at a binding referendum vote held by the City of Edgerton on March 19, 1996.