|
|
2011
Ehlers Public Finance Seminar Features Preview of Budget Repair Bill
Attendees at this year's Ehlers Public Finance Seminar
benefited from an overview of the Governor's Budget repair bill that
had been released the first day of the seminar.
Speakers at the seminar had firsthand knowledge of the provisions in
the budget repair bill and impacts to local government.
Click here to continue reading.
|
|
Do I Need a Paying Agent? (and what the heck is one?)
Most Wisconsin local
governments that issue debt do not use paying agents, which is a
third party that is engaged on a contractual basis to make sure debt
payments are made in a timely manner.
The paying agent is
responsible to maintain a record of the debt obligations it has been
contracted to administer, to notify the local government in advance
of payment due dates, to collect the amounts due, and to make the
payment on time to the proper party.
The paying agent also handles other administrative actions,
such as processing of mandatory redemption notices for term bonds.
Click here to continue reading.
|
|
2011 Wisconsin Conferences
We always look forward to
seeing you at up-coming conferences!
Click here to see which Wisconsin
conferences Ehlers will be attending in 2011.
|
|
Coming Soon:
Arbitrage Workshop
If you issue debt, this
hands-on workshop is for you!
Coming soon and based on
overwhelming feedback at the Ehlers 2011 Seminar, Gail Robertson,
Arbitrage Specialist, has agreed to train issuers on how to manage
arbitrage responsibilities in connection with current and advanced
obligations and obligations that qualify for the small-issuer
exception.
More details to follow.
|
|
Ehlers
375 Bishops Way
Suite 225
Brookfield, WI 53005
Phone: 262-785-1520
|
|
The Governor's Budget Proposal and What It May Mean
for Your Local Budget
On
Tuesday, March 1 Governor Walker submitted to the Wisconsin
Legislature his proposed budget for the 2011 - 2013 Biennium.
As
expected, the impacts on local government are far-reaching.
Our Ehlers
Public Finance Team has reviewed the Governor's budget (Senate Bill
27 and Assembly Bill 40) and prepared summary comments on the
following key aspects of the bill relating to local government
budgets and finance:
Levy Limits
Shared Revenues
Expenditure Restraint
Transportation Aids
DNR Environmental Loan Programs
Other Provisions:
Recycling Programs and Grants - The proposed budget eliminates funding for the
current State Recycling grant and ends the requirement for
municipalities or counties to operate recycling programs. The
bill would also divert $4 of the current $7 per ton recycling
tipping fee (charged per ton of solid waste deposited) to a new
economic development fund, with the remaining $3 deposited to the
environmental fund.
Library Maintenance of Effort - The Governor's budget would repeal Wisconsin
Statute 43.15(4)(c)5. which requires as a condition for
participating in a public library system that the municipality or
county provide its public library or joint public library total
funding that is not less than the average funding of the prior
three years.
The comments we are providing in The Advisor
represent Ehlers' interpretation of the language contained within
the budget bill. Since the bill may be amended prior to
passage to add, delete or alter certain provisions, or to clarify
intent, the information we have provided should be used for
discussion and initial planning purposes only.
|
|
|
Levy Limits To Continue Under Proposed State Budget
 The Governor's proposed budget extends limitations
on the tax levies of cities, villages, towns and counties
("political subdivisions") for an additional two-year
period. While the existing language of the prior levy limit law
(Wisconsin Statute 66.0602) remains mostly intact, there are three
changes that will significantly affect how 2011 and 2012 levies are
determined.
|
|
Biennial
Budget Impact - Shared Revenues to Municipalities and Counties
 The Governor's proposed budget provides for
continued revenue sharing for cities, villages, towns and counties,
however, includes changes to the funding levels. While the
predominant statute language remains intact, according to the
Governor's Budget Summary, the reduction in funding levels will
have varying impacts to individual municipalities and
counties.
Click here to continue reading.
|
|
Expenditure
Restraint Program: Funding Remains Constant-Minimum Inflation
Factor Removed
 Municipalities
can qualify for additional state aid through the Expenditure
Restraint Program ("ERP"). Under current law,
if the prior year's equalized tax rate for municipal purposes
(excluding TIF) is greater than $5.00, a municipality may complete
a request to receive a supplemental aid payment under the ERP
provided that its general fund budget has not increased over the
previous year by a percentage that is more than the sum of an
inflation factor and a valuation factor.
Click here to continue reading.
|
|
Transportation
Aids Impacted by 2011-2013 Biennium Budget Proposal
 The Governor's
proposed budget provides for continued aids for transportation
costs for cities, villages, towns and counties, however, includes
changes to the funding levels and hold harmless provisions.
While the predominant statute language remains intact, several
changes of note are included in the Budget Bill that will impact
transportation aids receivable in calendar year 2012.
|
|
DNR
Environmental Loan Programs
by Dave Wagner Financial Advisor
 The Governor's
proposed budget continues funding for these programs in the
2011-2013 Biennium with increases in interest rates for some, but
not all, loan categories.
Clean Water Fund Loans
Past law
provided for subsidized loans to local governments for eligible
sewerage system improvements at subsidized rates with repayment
over 20 years. Loan-only projects have all generally been funded on
a first-come first-serve basis.
|
|
Are you a
follower?
Being a
follower isn't always a bad thing. You can get current information
and network with the entire Ehlers team. Click on the logo to
follow us on LinkedIn.
|
|
|
|
