§ 2-125. Financing of debt and operations

(a) Definitions. As used in this section:

Debt levy means the county purpose levy for debt service on loans, bonds and notes issued.

Debt levy rate means the debt levy divided by the equalized value of the county.

Operating levy means the county purpose levy, less the debt levy.

Operating levy rate means total levy rate minus the debt levy.

Total levy rate means the county purpose levy divided by the equalized value of the county.

(b) Limit on operating levy. The county may not impose an operating levy that exceeds the 1992 operating levy rate of $4.666475, except by referendum pursuant to Wis. Stats. § 59.605. Any new increase in the debt levy requires the approval of three-fourths vote of the county board or by referendum as required approval as set forth pursuant to Wis. Stats. § 67.045.

(c) Reserves.

(1) All funds of the county except those of enterprise funds shall be lapsed to and reserved in the general fund. The finance committee shall review nonlapsing line items annually, with recommendation to and final decision made by the county board.

(2) The county shall maintain reserves for the following purposes:

a. Undesignated contingency reserve fund (101). This shall be an amount included in the annual budget that shall provide for unplanned or excess expenditures that occur as part of the annual budget process. These items should be those that are unanticipated or exceed the original estimated cost. The county board as part of the annual budget process shall determine the amount. The finance committee has authorization for use of these funds, but may not exceed $10,000.00 for any individual item. Unexpended amounts in this fund shall lapse into the general fund at the end of the fiscal year, period 13, per statute.

b. Undesignated general fund, fund balance (100). The county will maintain a cash flow reserve in the amount not less than 25 percent or more than 33 percent of the annual budgeted expenditures of the general fund excluding capital improvements, highway equipment and enterprise fund expenditures. Designated reserves balances in this fund for the listed departments shall be a maximum amount as follows: health and human services, $750,000.00; highway, $894,800.00; and child support agency, $150,000.00. Examples of situations where undesignated fund balances may be used include, but are not limited to, significant downturns in the economy, reductions in county valuation caused by other than county action, inconsistencies between federal, state and local fiscal years, withholding of anticipated revenues for reasons beyond the county's control or changes in state/federal cash flow activities.

c. Continuing capital projects fund (400). This amount shall be established on an annual basis for the replacement of capital equipment, buildings, land and/or other capital purchases as determined by the annually approved capital improvement program. The capital improvement program will be included in the annual budget process.

d. Designated highway equipment replacement (700). The highway equipment replacement program shall be approved annually as part of the budget process and provide funding for vehicle and operating equipment replacement.

e. Designated other reserves (100). Designated (nonlapsing) amounts held in the general fund are amounts for specific line items related to state statute, county board action, grants, contracts or pass-through funds.

f. Designated unfunded liability (700). A nonlapsing amount equal to the unfunded liability of the county for employee sick leave, vacation or other employee payouts or post-employment benefits due and payable to employees upon termination of employment. This amount shall be determined annually as part of the audit report and included in the subsequent year's reserve amount. Determination of the amount to be calculated as a liability shall be based upon current governmental accounting standards as related to this item for post-employment benefits.

g. Excess sales tax revenue (100). Sales tax revenue in excess of the annual budgeted amount shall be transferred from the sales tax fund into one of the above-designated reserve funds annually by finance committee at budget preparation. At such time when the above-designated funds are fully funded any excess shall be returned to the general fund for the purpose of reducing the general property tax levy.

(d) Approval of expenditures not in budget. The finance committee must approve all expenditures not in the budget. The finance committee, along with the appropriate oversight committee, will bring, by resolution, all expenditures of $10,000.00 and above that are not in the budget to the county board for approval by a two-thirds vote of the entire membership of the county board. The finance committee shall have authority to transfer funds between budgeted items of an individual county office or department and transfer monies up to $10,000.00 per activity or project from a contingent fund pursuant to Wis. Stats. § 65.90(5)(b). Other budgeted line items that will be exceeded for the year will be brought before the finance committee for approval. These will be presented to the board during the October board meeting, and any other budget overruns will be presented to the board during the February meeting the following year along with the unused funds that will be returned to the general fund.

(Ord. of 4-12-2004, § 2.03(E))