Village of Osceola, WI
Polk County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Village Board of the Village of Osceola 8-10-1993 by Ord. No. 7-93 as Secs. 3.03 through 3.06 of the 1993 Code. Amendments noted where applicable.]
The calendar year shall be the fiscal year.
A. 
Departmental estimates. When requested by the Finance Committee, each year, each officer, department and committee shall file with the Clerk 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 and 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 Clerk and shall be designated as "departmental estimates" and shall be as nearly uniform as possible for the main division of all departments.
B. 
Finance Committee to prepare.
(1) 
Budget to include. Each year the Finance Committee shall prepare and submit to the Board a proposed budget presenting a financial plan for conducting the affairs of the village for the ensuing calendar year. The budget shall include the following information:
(a) 
The expense of conducting each department and activity of the village 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 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.
(c) 
An itemization 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.
(d) 
Such other information as may be required by the Board and by state law.
(2) 
The village shall provide a reasonable number of copies of the budget thus prepared for distribution to citizens.
C. 
Hearing. The Finance Committee shall submit to the Board at the time the annual budget is submitted the draft of an appropriation ordinance providing for the expenditures proposed for the ensuing fiscal year. Upon the submission of the proposed appropriation ordinance to the Board it shall be deemed to have been regularly introduced therein. The Board shall hold a public hearing on the budget and the proposed appropriation ordinance as required by law. Following the public hearing, the proposed appropriation ordinance may be changed or amended and shall take the same course in the Board as ordinances.
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 by 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.
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 § 9-3 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.