73.10 Municipal finance.

370 words·~2 min read·/wi/chapter-73/73-10-3

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In this section “department” means the department of revenue.

1. The department shall collect annually from all town, city, village, county, and other public officers all of following:

a. Information regarding the collection of taxes, receipts from licenses, and other sources.

b. Information regarding the expenditure of public funds for all purposes.

c. Any other information that is considered necessary by the department.

2. Information collected under subd. 1. shall be on forms prescribed by the department that include any requirements under par.

(b). All public officers requested to provide information under subd. 1. shall properly complete and promptly return to the department all forms transmitted to them by the department.

3. The department shall examine all town, village, city, county, and other public records that the department considers necessary. The department shall publish annually the information collected under this paragraph, with any compilations, analyses, or recommendations that the department determines are necessary. The department shall disseminate information concerning local government accounting, auditing, and fiscal matters.

1. The department may require by rule all of the following:

a. That the information it needs under par.

(a)be submitted as annual financial statements, notes to the financial statements, and supporting schedules.

b. That the statements, notes, and schedules under subd. 1. a. conform to generally accepted accounting principles promulgated by the Governmental Accounting Standards Board or its successor bodies.

c. That the statements, notes, and schedules under subd. 1. a. be audited in accordance with generally accepted auditing standards.

2. Notwithstanding s. 227.01

(j), a rule promulgated under this paragraph is subject to the requirements of ch. 227 .

(c)Beginning in 2021, each municipality that is eligible to receive a payment under s. 79.097 shall submit with the information required under pars.

(a)and

(b)the actual annual revenues received under s. 66.0420

(7).

(3)The department may inspect and examine or cause an inspection and examination of the records of any town, city, village, county or other public officer whenever such officer fails or neglects to return properly the information required by sub.

(2)within the time specified under s. 86.303

(c),

(d)or

(g).