%'s, Votes, Dates Flashcards
Minimum Deposit required by bidders to participate in bond sale
2%
Tax Levy CAP
2% (exclusions include Capital, Debt, Statutory)
Appropriation CAP
- 5% or Cost of Living adjustment, which ever less.
3. 5% if pass ordinance
Contingent Expense Maximum
3%
Limit for emergency appropriations of the total current & utility budget appropriations
3%
Muni Debt limit
3.5%
Capitalized, non-deductible debt for a municipal public utility in deficit (20xs rule)
5%
Temp appropriations
26.25%
% in excess of bid threshold, may sell its personal property not needed for public for public use, at public sale, to the highest bidder
15%
% or lower to be excused from advertising for pubic bids when lowest bid price compared to a state contract
10%
BAN Maturity limit
1 year up to 10 years
BAN renewal Maturity
1st day, 5th month, 10th year
days, within, after approval of introduced budget, DLGS Director receives 3 certified copies
3
days prior, advertisement must occur before public bond sale
7
days minimum, prior to adoption, budget must be made available for inspection
7
days after DLGS certifies approval budget, gov. may adopt
10
days after introduction, bond ordinance must be published & # weeks prior to the date of further consideration
10 days
1 Week
days all bid security deposits must be returned except for the 3 lowest. Within # days of awarding contract, the rest returned
10
3
days deadline clerk must submit adopted budget to county board
15
days waiting period for bond to take into effect
20
days must advertise b/f receiving RFP
20
days to have contract fully signed after a contract awarded
21
days, minimum, after budget approval public hearing can take place
28
days without any public advertised bids received, private sale may then occur
30
Days Bond sale may be postponed without re-adv
60
days after receipt of proposals, the gov. body will award a contract made by resolution
60
days into the new fiscal year, deadline for TAN to be paid in full
120
month after close of fiscal yr annual audit completed
6 months
Maximum period a contract may be awarded to professional services
12 months
Maximum period contract may be awarded, excluding professional services
24 months
minimum useful life required to finance using bonds or notes
5 years
maximum contract for recycling materials program;
energy savings
10 years
15 years
Annual Debt statement due
1/30 calendar, 7/31 fiscal
Introduce and approve budget
2/10
AFS
2/10
Public referendum vote to exceed 2.5 budget approp CAP
Last Tuesday of feb
Budget Adoption
3/20
Situations needing Majority vote of full gov body
- adopt budget or bud. amend. - matters not req. to be in the bond ord. - adopt cash management plan - pass res. to read budget by title - Issue utility anticipation notes
penalty for CFO filing AFS late
$5 per day
Max fee that may be charged for RFP
$50
min bond coverage per local unit official / officer
$1,000
Bid threshold with / without QPA
P2P threshold
40,000 (increases every 5 years)
17,500
17,500
quote threshold
15%
$ or less a private bid sale may occur
1 million
