[HISTORY: Adopted by the Village Board of the Village of
Sullivan 8-22-2006 (Title 3, Ch.
1, of the 2006 Code of Ordinances). Amendments noted where applicable.]
A.
Content of tax roll. Pursuant to § 70.65, Wis. Stats.,
the Clerk-Treasurer shall prepare a tax roll and include the required
contents as described in § 70.65, Wis. Stats.
B.
Property tax collection. All provisions of Chapter 74, Wis. Stats.,
in regards to property tax collection are adopted and by reference
made a part of this chapter with the same force and effect as though
set out in full.
A.
Bond eliminated. The Village of Sullivan elects not to give the bond
on the Village Clerk-Treasurer acting as Village Treasurer as provided
for by § 70.67(1), Wis. Stats.
B.
Village liable for default of Treasurer. Pursuant to § 70.67(2),
Wis. Stats., the Village shall be obligated to pay, in case the Village
Clerk-Treasurer shall fail to do so, all state and county taxes required
by law to be paid by such Clerk-Treasurer to the County Treasurer.
A.
Departmental estimates. When requested by the Village President,
Budget, Finance and Legal Affairs Committee and/or Village Clerk-Treasurer,
each officer, department and committee shall annually file with the
Village Clerk-Treasurer an itemized statement of disbursements made
to carry out the powers and duties of such officer, department or
committee during the preceding fiscal year, and a detailed statement
of the receipts and disbursements on account of any special fund under
the supervision of such officer, department or committee during such
year, and of the conditions and management of such fund; also detailed
estimates of the same matters for the current fiscal year and for
the ensuing fiscal year. Such statements shall be presented in the
form prescribed by the Village Clerk-Treasurer and shall be designated
as "departmental estimates," and shall be as nearly uniform as possible
for the main division of all departments.
B.
Consideration of estimates. The Budget, Finance, and Legal Affairs
Committee, with the assistance of the Village President and Village
Clerk-Treasurer, shall consider such departmental estimates in consultation
with the department head, and recommend to the Village Board a budget
amount for such department or activity. The Budget, Finance and Legal
Affairs Committee, Village President and Village Clerk-Treasurer shall
consider the budget recommendations submitted in developing a proposed
budget for submission to the Village Board.
C.
Form of proposed budget. The proposed budget shall include the following
information:
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
(1)
The actual expenditures of each department and activity for the expired
portion of the current year, and last preceding fiscal year, and the
estimated expense of conducting each department and activity of the
Village for the remainder of the current year and ensuing fiscal year,
with reasons for any proposed increase or decrease as compared with
actual and estimated expenditures for the current year.
(2)
An itemization of all anticipated income of the Village from sources
other than general property taxes and bonds issued, with a comparative
statement of the amounts received by the Village from each of the
same or similar sources for the last preceding and current fiscal
year.
(3)
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.
(4)
All existing indebtedness of the Village, including the amount of
interest payable and principal to be redeemed on any outstanding general
obligation bonds of the Village and any estimated deficiency in the
sinking fund of any such bonds during the ensuing fiscal year.
(5)
Such other information as may be required by the Board and by state
law.
D.
Copies of budget. The Village Clerk-Treasurer shall provide a reasonable
number of copies of the budget summary thus prepared for distribution
to citizens. The entire fiscal budget shall be available for public
inspection in the office of the Village Clerk-Treasurer during regular
office hours.
E.
Report and hearing.
(1)
The Village President, Budget, Finance and Legal Affairs Committee
and Village Clerk-Treasurer shall make a report to the Village Board
no later than the Village Board's first November meeting. The report
shall include the estimated cost of improvements as well as the estimated
cost of operating the various departments and all other costs, including
interest charges, for which money will have to be raised by taxation
during the following year.
(2)
A summary of such budget and notice of the place where such budget
in detail is available for public inspection and notice of the time
and place for holding the public hearing thereon shall be published
as a Class 1 notice, under Ch. 985, Wis. Stats., in a newspaper of
general circulation in the Village at least 15 days prior to the time
of such public hearing.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
(3)
Not less than 15 days after the publication of the proposed budget
and the notice of hearing thereon, the public hearing shall be held
at the time and place stipulated, at which time any resident or taxpayer
of the Village shall have an opportunity to be heard on the proposed
budget. The budget hearing may be adjourned from time to time. Following
the public hearing, the proposed appropriation ordinance may be changed
or amended and shall take the same course in the Village Board as
other ordinances.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
The amount of the tax to be levied or certified, the amounts
of the various appropriations, and the purposes thereof shall not
be changed after approval of the budget except upon the recommendation
of the Village President and upon a two-thirds vote of the entire
membership of the Village Board. Notice of such transfer shall be
given by publication within 15 days thereafter in the official Village
newspaper or legally posted in three locations.
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 appropriation in the adopted budget or when changed as authorized by § 57-4 of this chapter. 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 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.
The calendar year shall be the fiscal year.
A.
Public depositories designated. The Village Board shall designate
the public depository or depositories within this state within which
Village funds shall be deposited, and when the money is deposited
in such depository in the name of the Village, Village officials and
bondsman shall not be liable for such losses as are defined by state
law. The interest arising therefrom shall be paid into the Village
treasury. The following financial institutions are designated as public
depositories:
B.
Collateralization of depository funds. Pursuant to state law, designated
public depositories shall be required to pledge U.S. Treasury notes
equal in amount to any uninsured balance of the Village's deposit.
A maximum of $500,000 in Village funds may be deposited at any one
time in any Board-authorized depository, except as otherwise provided.
Collateralization is required for any board approved depositing of
funds in excess of $500,000.
A.
Village Board to audit accounts. Except as provided in Subsection C, no account or demand against the Village shall be paid until it has been audited by the Village Board and an order drawn on the Village Treasury therefor. Every such account shall be itemized. Every such account or demand allowed in whole or in part shall be filed by the Village Clerk-Treasurer, and those of each year shall be consecutively numbered and have endorsed thereon the number of the order issued in payment.
B.
Claims to be verified. All accounts, demands or claims against the
Village of Sullivan shall be verified by the claimant or proper official.
C.
Payment of regular wages or salaries. Regular wages or salaries of
Village officers and employees shall be paid by payroll, verified
by the proper Village official, department head, board or commission
and filed with the Village Clerk-Treasurer in time for payment on
the regular pay day. The Clerk-Treasurer may also immediately pay
nondiscretionary routine bills, such as utilities statements, or bills
for which there is a late payment penalty.
The Village Clerk-Treasurer may invest any Village funds not
immediately needed, pursuant to §§ 66.0603 and 219.05,
Wis. Stats.
A.
The Village Clerk-Treasurer and his/her deputies shall not receive
any money into the treasury from any source, except on account of
taxes levied and collected during the fiscal year for which they may
then be serving, without giving a receipt therefor in the manner specified
by the Village Board.
B.
Upon the payment of any money (except for taxes as herein provided),
the Village Clerk-Treasurer, or his/her designees shall make out a
receipt in duplicate for the money so received. The Village Clerk-Treasurer,
or his/her designees shall charge the amount thereof to the treasury
and credit the proper account. The payment of the money to any receiving
agent of the Village or to the Village Clerk-Treasurer, or his/her
designees shall be safeguarded in such manner as the Village Board
shall direct.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
The Village Clerk-Treasurer, and his/her designees are authorized
to prepare a statement of real property status form to be used to
provide information often requested for transfers of real property
such as the amount of outstanding special assessments, deferred assessments,
changes in assessments, amount of taxes, outstanding water and sewer
bills, current water and sewer bills, contemplated improvements, outstanding
citations on building code violations and similar information. Any
such information sought shall be provided to the person requesting
it on said form. Requests for statements of real property status shall
be made to the Village Clerk-Treasurer, or his/her designees a minimum
of one business day in advance. A fee as prescribed in the current
Fee Schedule of the Village[1] shall be charged for compiling this information. In providing
this service, the Village of Sullivan and its officials assume no
liability for such service nor is any warranty intended or implied.
A.
Adoption of city bidding procedures. All contracts for public construction
shall be let by the Village Board in accordance with § 62.15,
Wis. Stats. The Village Board, or a person or body designated by the
Village Board, shall exercise the powers and duties of the Board of
Public Works under § 62.15, Wis. Stats.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
B.
Construction by the Village. Any class of public construction may
be done directly by the Village without submitting the same for bids
provided that the same is authorized by a vote of 3/4 of all members
of the Village Board.
A.
FORMAL BID
INFORMAL QUOTATION
VERBAL QUOTATION FORM
Definitions. As used in this section, the following terms shall have
the meanings indicated:
The formal bid procedure is used for purchasing goods and
services in an amount of $25,000 and higher, and in some instances
in amounts less than this amount. The formal bid procedure requires
a legal public notice and contains detailed, written specifications
regarding the goods and services to be purchased, and a number of
specific conditions associated with the purchase.
An informal quotation is a written request for quotation
sent to vendors. The informal quotation is used for the purchase of
goods and services in an amount less than $25,000.
The Village solicits verbal quotations on items the Village
purchases, which are less than $25,000. The results of the verbal
quotations are recorded on a memorandum of verbal quotation form.
B.
Bid solicitation.
(1)
Competitive bids or quotations may be obtained before contracting to purchase articles, goods, wares, material services or merchandise which amount in bulk to more than $1,000. Purchases up to $1,000 may be made by either telephone quotations, informal written quotations or formal bid. Purchases from $1,000 to $25,000 may be made by written quotation, telephone quotation or formal bid. Purchases of $25,000 and over, pursuant to Subsection A above, shall be made by formal bid unless exempted from it by action of the Village Board.
(2)
Verbal quotations for goods and services should be secured from at
least two qualified vendors, and the results of the quotations shall
be recorded on the "Memorandum of Verbal Quotation" form and signed
by the person receiving the quotations.
(3)
Informal requests for written quotations should be solicited from
at least three qualified bidders on the request for quotation form.
All written requests for quotations shall be issued by the applicable
department heads and returned to and analyzed by the applicable department
heads. Informal requests for written quotations may also be solicited
by telephone. Vendors shall be given a reasonable time to respond
to the request for an informal, written quotation and shall be given
clear, concise specifications and informal bidding instructions to
facilitate competitive bidding.
(4)
When a formal bid is required or deemed to be in the best interests
of the Village, the bidding procedure shall follow the legal requirements
associated with a Class 1 notice under state statute and the procedures
normally associated with the formal bid proposal.
(5)
The formal bid proposal will contain at least the following information:
(a)
The bid number.
(b)
A detailed description of the goods and services required, including
enough information about the items or services required so that more
than one vendor can meet the specifications.
(c)
The time, date and place the bids will be opened.
(d)
The address to which the bids shall be mailed or delivered.
Instructions to bidders shall include such information as delivery
dates, transportation charges, proposal prices, conditions for guaranteeing
the proposal, payment terms, right of rejection of proposals, right
to reject merchandise, insurance requirements, alternative proposal
consideration, tax information, and other appropriate information
regarding the awarding and execution of the contract and contract
considerations.
(e)
The bid proposal shall also include a section on special provisions
including guarantees and service considerations, trade-in considerations,
and other information relating to special conditions.
(6)
Specifications for all items purchased shall be developed with the
full involvement and participation of the using departments. However,
the Village Clerk-Treasurer shall insure that the specifications are
sufficiently broad enough that competition in the bidding process
is preserved.
Billings by the Village may be paid within 30 days after billing
without interest. Thereafter, interest may be charged at the rate
of 1 1/2% per month or any fraction thereof, until the following
November 15. Bills not paid on or before the November 15 shall have
added to the total amount due 1 1/2% of said charges, which shall
be entered on the tax roll as a special charge, and become a lien
upon real estate.
A firm of certified public accountants may be employed each
year by the Village, subject to the confirmation of the Village Board
to conduct a detailed audit of the Village's financial transactions
and its books, and to assist the Village Clerk-Treasurer in the management
of the Village's financial affairs, including the Village's public
utilities. These auditors may be employed on a calendar-year basis.
The books audited may, in addition to the financial records of the
office of the Village Clerk-Treasurer, including the Treasurer's books,
the Village's public utilities, Police Department records, and any
other books of any boards, commission, officers or employees of the
Village handling Village monies.
No agent of the Village of Sullivan having authority to employ
labor or to purchase materials, supplies or any other commodities,
may bind the Village or incur any indebtedness for which the Village
may become liable without approval of the Board. Each such employment
or purchase order shall be drawn against a specific appropriation,
the money for which shall be available in the Village treasury and
not subject to any prior labor claims or material purchase orders
at the time when such employment is negotiated or purchase order drawn.
The Village Clerk-Treasurer shall keep a record of such employment
and purchase orders and shall charge them against the proper appropriation.
A.
Pursuant to the authority of § 74.47(2), Wis. Stats., the
Village hereby imposes a penalty of 1% per month or fraction of a
month, in addition to the interest prescribed by § 74.47(1),
Wis. Stats., on all overdue or delinquent personal property taxes
retained for collection by the Village or eventually charged back
to the Village by the County for purposes of collection under § 74.31,
Wis. Stats.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
B.
This penalty of 0.5% per month or fraction of a month shall apply
to any personal property taxes which are overdue or delinquent.
A.
Purpose.
(1)
Purpose; establishment of policies. Cash and investments generally
represent the largest asset on the Village's balance sheet, and the
Village frequently has cash available for short-term, intermediate
and long-term investments. Therefore, it is important that the Village
establish a policy to ensure continuous prudent investment of available
Village funds. It is in the interest of the Village of Sullivan to
adopt a policy to insure continuous prudent deposits and investments
of available Village funds. The Village Board of the Village of Sullivan
establishes the following policies in the public interest for the
deposit and investment of available Village funds.
(2)
Objectives. The primary objectives, in priority order, of the Village's
investment activities shall be:
(a)
Safety. Safety in principal is the foremost objective of the
investment program. Investments of the Village shall be undertaken
in a manner that seeks to ensure the preservation of capital in the
overall portfolio. To attain this objective, the Village will diversify
its investments by investing funds among a variety of securities offering
independent returns and financial institutions.
(b)
Liquidity. The Village investment portfolio will remain sufficiently
liquid to enable the Village to meet all operating requirements which
might be reasonably anticipated.
(c)
Return on investments. The Village investment portfolio shall
be designated with the objective of attaining a bench mark rate of
return throughout budgetary and economic cycles, commensurate with
the Village's investment risk constraint and cash flow characteristics
of the portfolio.
B.
Public depositories.
(1)
Depositories. The Village Board shall, by ordinance or resolution,
designate one or more public depositories, organized and doing business
under the laws of this state or federal law, and located in Wisconsin,
in which the Village Clerk-Treasurer shall deposit all public monies
received by her/him.
(2)
Limitations. The resolution or ordinance designating one or more
public depositories shall specify whether the monies shall be maintained
in time deposits subject to the limitations of § 66.0603(1m),
Wis. Stats., demand deposits or savings deposits, and whether a surety
bond or other security shall be required to be furnished under § 34.07,
Wis. Stats., by the public depository to secure the repayment of such
deposits. Not more than $500,000 shall be deposited in any one public
depository, unless specifically authorized by the Village Board; however,
there will be no deposit limit on funds deposited in the Wisconsin
Local Government Pooled Investment Fund.
(3)
Deposits. The Village Clerk-Treasurer shall deposit public monies
in the name of the Village of Sullivan in such public depositories
designated by the Village Board and subject to the limitations hereinabove
set forth.
(4)
Withdrawals. Withdrawals or disbursements by the Village Clerk-Treasurer
of monies deposited in a public depository shall be made as provided
by § 66.0607, Wis. Stats. The Village Clerk-Treasurer is
authorized, at her/his discretion, to process periodic payments through
the use of money transfer techniques as set forth in § 66.0607,
Wis. Stats.
C.
Investment Management.
(1)
Management. Authority to manage the Village's investment program
is derived from the Village Board. Management responsibility for the
investment program is hereby delegated to the Clerk-Treasurer, who
shall be responsible for all transactions undertaken and shall establish
a system of controls to regulate the activities of the subordinate
officials, and their procedures in the absence of the Clerk-Treasurer.
Subject to the provisions of this policy, the Village Clerk-Treasurer
shall have management of and discretion in the investment of all Village
funds that are not immediately needed and are available for investment.
(2)
Intent. It is the intent of the Village Board that the Village Clerk-Treasurer
utilize a wise and prudent cash management system within the level
of her/his expertise in such a manner to insure maximum investment
earnings, while at the same time be able to respond promptly to authorized
expenditures. Safety, liquidity and yield will be the prime requisites
for the investment of Village funds.
(3)
Scope. This policy is limited in its application to funds which are
not immediately needed and are available for investment. Other funds,
the investment of which is subject to special federal and/or state
laws and regulations, shall be invested in accordance with such laws
and regulations to the extent they may be inconsistent with the provisions
of this policy.
(4)
Responsibility. In exercising her/his investment responsibilities,
the Village Clerk-Treasurer shall exercise the care, skill, prudence
and diligence under the circumstances then prevailing that a prudent
person acting in a similar capacity, having the same resources, and
familiar with like matters in the management of a similar activity
with a like purpose would exercise.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
(5)
Ethics and conflicts of interest. Village officials and employees
involved in the investment process shall disclose personal business
activity that could conflict with proper execution of the investment
program, or which could impair their ability to make impartial investment
decisions. Employees and investment officials shall disclose to the
Clerk-Treasurer and Village Board any material financial interest
in financial institutions that conduct business within their jurisdiction.
D.
Investment types. The Village Clerk-Treasurer is authorized and directed
to utilize investment options as set forth within these guidelines,
and that the Village Clerk-Treasurer shall take into consideration
the following factors which are listed in order of priority to the
investment decision:
(1)
Certificates of deposit. Village funds may be invested in certificates
of deposit maturing within three years or less from the date of investment
issued by any banks, savings and loan associations or credit unions
which are authorized to transact business in the State of Wisconsin.
The financial institutions must have been designated as a public depository
of the Village by resolution or ordinance of the Village Board.
(2)
Government bonds and securities. Village funds may be invested in
United States government bonds or securities which are direct obligations
of or guaranteed as to principal and interest by the federal government
and bonds or securities which are obligations of any agency, commission,
board or other instrumentality of the federal government, where principal
and interest are guaranteed by the federal government. The securities
must be purchased through financial institutions authorized to conduct
business in the State of Wisconsin and placed in safekeeping in a
segregated account in the Village's name at any designated public
depository or approved financial institution.
(3)
Government investment pool. Village funds may be invested in the
Wisconsin Local Government Pool Investment Fund without restriction
as to the amount of deposit or collateralization.
(4)
Repurchase agreements. Village funds may be invested in repurchase
agreements in financial institutions authorized to conduct business
in the State of Wisconsin. Repurchase agreements can only be made
in securities which are direct obligations of or guaranteed as to
principal and interest by the federal government and securities which
are obligations of an agency, commission, board or other instrumentality
of the federal government, where principal and interest are guaranteed
by the federal government. Securities purchased by a repurchase agreement
must be placed in safekeeping in a segregated account in the Village's
name at any designated public depository or approved financial institution.
(5)
Wisconsin Investment Trust. Village funds may be invested in the
Wisconsin Investment Trust without restrictions as to the amount of
deposit or collateralization.
(6)
Savings deposit. Village funds may be temporarily invested in savings
deposits.
(7)
Securities. The Village Clerk-Treasurer may invest in private securities
which are senior to, or on a parity with, a security of the same issuer
which is rated highest or second highest by Moody's Investors Service,
Standard and Poor's Corporation or other similar nationally recognized
rating agency.
E.
Safety.
(1)
In order to safeguard investments and deposits, the Village shall
acquire of each public depository its annual financial statements
and evaluate such statements as to the financial soundness of the
depository. Also to be reviewed are other pertinent financial information
filed with regulatory agencies.
(2)
The Village shall require, when investing in repurchase agreements,
that collateral be pledged by the depository in an amount equal to
or greater than the amount of the repurchase agreements the Village
has with such depository. In excess of FDIC coverage, the collateral
shall be direct obligations of the United States, or of its agencies
if the payment of principal and interest is guaranteed by the federal
government, or obligations of the State of Wisconsin, or of the Village
of Sullivan. Evidence of such collateral shall be provided by the
depository.
(3)
Consideration shall also be given to the total amount of existing
Village funds which are already in such depository and/or the capacity
of the depository to handle the size of the deposit or investment
with consideration of federal depository insurance and State of Wisconsin
Guarantee Fund requirements. The Village will diversify its investments
by security type and institution. With the exception of U.S. Treasury
securities and authorized pools, no more than 50% of the Village's
total investment portfolio will be invested in a single security type
or with a single financial institution.
F.
G.
Yield.
(1)
Yield shall be the final determining factor of the investment decision.
(2)
Bids shall be required of all investments that exceed both $100,000
and a thirty-day or longer maturity date. A minimum of three bids
from the Village's public depository list shall be acquired. Exceptions
to the bid process include only the purchase of obligations of the
U.S. Treasury and deposits in the Wisconsin Local Government Investment
Pool, which shall be registered in the Village's name.
H.
Miscellaneous.
(1)
Liability. Notwithstanding any other provision of law, the Village
Clerk-Treasurer who deposits public monies in any public depository
in compliance with § 34.05, Wis. Stats., is, under the provisions
of § 34.06, Wis. Stats., relieved of any liability for any
loss of public monies which results from the failure of any public
depository to repay to the public depositor the full amount of its
deposits, thus causing a loss as defined in § 34.01(2),
Wis. Stats.
(2)
Definitions. Words or phrases shall, insofar as applicable, have
the meaning set forth in § 34.01, Wis. Stats., as amended.
(3)
Conflicts. This section is enacted in accordance with the provisions
of Ch. 34 and § 66.0603, Wis. Stats. In case of conflict,
the state laws shall prevail.
I.
BENCH MARK
BID
BROKER
COLLATERAL
COUPON
DISCOUNT
DIVERSIFICATION
LOCAL GOVERNMENT INVESTMENT POOL (LGIP)
MARKET VALUE
MATURITY
PORTFOLIO
RATE OF RETURN
REPURCHASE AGREEMENT
SAFEKEEPING
TREASURY BILLS
YIELD
(1)
(2)
Definitions. The following definitions shall be applicable in this
section:
A comparative base for measuring the performance or risk
tolerance of the investment portfolio. A bench mark should represent
a close correlation to the level of risk and the average duration
of the portfolio's investments.
The price offered by a buyer of securities.
A securities professional who brings buyers and sellers together
for a commission.
Securities, evidence of deposit or other property which a
borrower pledges to secure repayment of a loan; also refers to securities
pledged by a bank to secure deposits of public monies.
Either:
The difference between the cost price of a security and its
maturity when quoted at lower than face value. A security selling
below original offering price shortly after sale also is considered
to be a discount.
Dividing investment funds among a variety of securities offering
independent returns.
The aggregate of all funds from political subdivisions that
are placed in the custody of the Wisconsin State Treasurer for investment
and reinvestment.
The price at which a security is trading and could presumably
be purchased or sold.
The date upon which the principal or stated value of an investment
becomes due and payable.
The collection of securities held by an investor.
The yield obtainable on a security based on its purchase
price or its current market price. This may be the amortized yield
to maturity on a bond the current income return.
A holder of securities sells these securities to an investor
with an agreement to repurchase them at a fixed price on a fixed date.
The security buyer in effect lends the seller money for the period
of the agreement, and the terms of the agreement are structured to
compensate his/her for this.
A service to customers rendered by banks for a fee whereby
securities are valuables of all types and descriptions are held in
the bank's vaults for protection.
A non-interest-bearing discount security issued by the U.S.
Treasury to finance the national debt. Most Treasury Bills are issued
to mature in three months, six months or one year.
The rate of annual income return on an investment, expressed
as a percentage:
Income yield is obtained by dividing the current dollar income
by the current market price of the security.
Net yield or yield to security is the current income yield minus
any premium above par or plus any discount from par in purchase price,
with the adjustment spread over the period from the date of purchase
to the date of maturity of the bond.
A.
Purpose and intent. It is the declared intent of this section that
tax payments in excess of the tax bill amounts shall be refunded pursuant
to the procedures established under this section within 15 business
days of the payment. Further, it is the declared intent that this
policy shall be in full force and effect upon adoption by the Village
Board, with the purpose of complying with § 74.03(2), Wis.
Stats.
B.
Authority. This section is adopted pursuant to the authority granted
to village boards to enact an alternative system for approving financial
claims against the Village other than claims under § 893.80,
Wis. Stats.
C.
Required procedures upon payment of excess amount over tax bill amount.
Pursuant to § 61.26, Wis. Stats., upon receipt of tax payments
in excess of the tax bill, the Village Clerk-Treasurer shall deposit
as soon as practicable all payments in the name of the Village in
public depositories designated by the Village Board. Upon verification
by the Village Clerk-Treasurer that the payment as deposited has cleared
and not been returned as insufficient funds, but not later than 10
days after depositing, the Clerk-Treasurer shall confirm, in writing,
the name and mailing address of the taxpayer for whom a refund in
excess of the tax bill amount is due, the amount of the refund in
excess of the tax bill, the date payment was received, and a statement
that the payment as made has cleared and not been returned as insufficient
funds.
D.
Required procedures upon confirmation of excess payment of tax bill
amount.
(1)
Upon confirmation that a taxpayer has made a tax payment in excess
of the tax bill amount, the Village Clerk-Treasurer shall approve
a claim as a proper charge against the Village Treasury, and endorse
his/her approval on the claim after having determined that the following
conditions have been complied with:
(a)
The funds are available to pay the claim, assuming the tax payment
has cleared and has not been returned.
(b)
The Village Board has authorized the refund of excess tax payment
as established by the adoption of this section.
(c)
The refund is due on the amount noticed by the Village Clerk-Treasurer
as a tax payment in excess of the amount of the tax bill.
(d)
The refund is a valid claim against the Village, being a payment
in excess of the tax bill amount.
(2)
Further, the Village Clerk-Treasurer shall prepare monthly and file
with the Village Board a list of claims paid under this procedure,
listing the amount of the claims, the date paid, the name of the taxpayer/claimant,
and that the payment was a payment of a refund for excess tax payment.
E.
Issuance of disbursement from local treasury. Upon approval of the claim (or proper authorization) by the Village Clerk-Treasurer under the procedures listed in Subsection D, a refund check payable to the taxpayer/claimant named in the claim or authorization and in the amount approved shall be written by the Village Clerk-Treasurer, countersigned as required by § 66.0607, Wis. Stats., unless facsimile signature approved by the Village Board is used, shall be issued not later than 15 business days from the date the tax payment was received by the Village Clerk-Treasurer as established by the Village Clerk-Treasurer in Subsection C.
[Amended at time of adoption of Code (see Ch. 1, General
Provisions, Art. III)]
F.
Mailing or delivery of refund check to taxpayer/claimant. Upon issuance
of the proper countersigned refund check, pursuant to the procedures
in this section, the refund check shall be delivered to the taxpayer/claimant
or mailed to the last known address of the taxpayer/claimant by the
Village Clerk-Treasurer.
G.
Audit. Pursuant to § 66.0605, Wis. Stats, the Village Board
hereby is required to contract for an annual detailed audit of its
financial transactions and accounts by a public accountant licensed
under Ch. 442, Wis. Stats., and designated by the Village Board.
In lieu of the personal signatures of the Village President
and Clerk-Treasurer, there may be affixed on order checks the facsimile
signatures of such persons adopted by them and approved by the Village
Board, but the use of the facsimile signature shall not relieve such
official from any liability to which he/she is otherwise subject,
including the unauthorized use thereof.
A.
Purpose. The Village Board of the Village of Sullivan has authorized
at various times the using of the Village of Sullivan's professional
staff to help various landowners resolve issues involving zoning,
subdivision control, street and highway access questions, property
line disputes, other matters concerning property and other matters
of concern to property owners in the Village of Sullivan. While the
Village Board wishes to assist property owners with those matters,
it is not equitable for the other taxpayers in the Village to have
to absorb these professional fees where the fees were incurred to
benefit specific landowners.
B.
Fees of Village professionals charged back. Whenever either the Village
Board, Village Clerk-Treasurer or other Village official has authorized
a property owner in the Village of Sullivan to contact the Village
Attorney, Engineer or any other of the Village's professional staff
or the Village Board, Village Clerk-Treasurer or other Village official
contacts said Village Attorney, Engineer or any of the Village's professional
staff or a property owner contacts the Village Attorney, Engineer
or any other of the Village's professional staff, if said contact
results in a charge to the Village of Sullivan for that professional's
time and services and said service is not a service supplied to the
Village of Sullivan as a whole, then and in that event the Village
Clerk-Treasurer shall, pursuant to the provisions of § 66.0627,
Wis. Stats., charge that service to said property owner for the fees
incurred by the Village; this may be waived upon a two-thirds vote
of the Village Board.
C.
Fees incurred for certified survey maps and subdivisions. Professional
fees incurred by the Village in approving certified survey maps and
subdivisions will all be charged back to the owner of the property
upon which said certified survey map or subdivision is being developed.
D.
Property owner allowed time to pay. The Village Clerk-Treasurer shall
give each property owner billed for current services as provided for
herein a period of time not to exceed 30 days to pay, and thereafter,
if that charge remains unpaid, the Village Clerk-Treasurer shall automatically
charge that delinquent bill against the current or next tax roll as
a delinquent tax against the property as provided by law. In the event
the statement rendered to the property owner or the time given for
the property owner to pay is too late in the current year for the
charge, when it becomes delinquent, to be extended on that year's
tax roll, then the delinquent charge shall be extended to the following
year's tax roll.
E.
Fees charge for permits issued to municipalities, agencies or other
governmental organizations. Whenever it is requested that the Village
of Sullivan grant approvals to any other municipality, agency or other
governmental body and that permit process requires the assistance
of the professional staff of the Village, those fees shall also be
charged back to the municipality, agency or governmental body seeking
the permit.
