%'s, Votes, Dates

Question 1

Minimum Deposit required by bidders to participate in bond sale

Answer 1

2%

Question 2

Tax Levy CAP

Answer 2

2% (exclusions include Capital, Debt, Statutory)

Question 3

Appropriation CAP

Answer 3

2. 5% or Cost of Living adjustment, which ever less.

3. 5% if pass ordinance

Question 4

Contingent Expense Maximum

Answer 4

3%

Question 5

Limit for emergency appropriations of the total current & utility budget appropriations

Answer 5

3%

Question 6

Muni Debt limit

Answer 6

3.5%

Question 7

Capitalized, non-deductible debt for a municipal public utility in deficit (20xs rule)

Answer 7

5%

Question 8

Temp appropriations

Answer 8

26.25%

Question 9

% in excess of bid threshold, may sell its personal property not needed for public for public use, at public sale, to the highest bidder

Answer 9

15%

Question 10

% or lower to be excused from advertising for pubic bids when lowest bid price compared to a state contract

Answer 10

10%

Question 11

BAN Maturity limit

Answer 11

1 year up to 10 years

Question 12

BAN renewal Maturity

Answer 12

1st day, 5th month, 10th year

Question 13

days, within, after approval of introduced budget, DLGS Director receives 3 certified copies

Answer 13

3

Question 14

days prior, advertisement must occur before public bond sale

Answer 14

7

Question 15

days minimum, prior to adoption, budget must be made available for inspection

Answer 15

7

Question 16

days after DLGS certifies approval budget, gov. may adopt

Answer 16

10

Question 17

days after introduction, bond ordinance must be published & # weeks prior to the date of further consideration

Answer 17

10 days

1 Week

Question 18

days all bid security deposits must be returned except for the 3 lowest. Within # days of awarding contract, the rest returned

Answer 18

10

3

Question 19

days deadline clerk must submit adopted budget to county board

Answer 19

15

Question 20

days waiting period for bond to take into effect

Answer 20

20

Question 21

days must advertise b/f receiving RFP

Answer 21

20

Question 22

days to have contract fully signed after a contract awarded

Answer 22

21

Question 23

days, minimum, after budget approval public hearing can take place

Answer 23

28

Question 24

days without any public advertised bids received, private sale may then occur

Answer 24

30

Question 25

Days Bond sale may be postponed without re-adv

Answer 25

60

Question 26

days after receipt of proposals, the gov. body will award a contract made by resolution

Answer 26

60

Question 27

days into the new fiscal year, deadline for TAN to be paid in full

Answer 27

120

Question 28

month after close of fiscal yr annual audit completed

Answer 28

6 months

Question 29

Maximum period a contract may be awarded to professional services

Answer 29

12 months

Question 30

Maximum period contract may be awarded, excluding professional services

Answer 30

24 months

Question 31

minimum useful life required to finance using bonds or notes

Answer 31

5 years

Question 32

maximum contract for recycling materials program;

energy savings

Answer 32

10 years

15 years

Question 33

Annual Debt statement due

Answer 33

1/30 calendar, 7/31 fiscal

Question 34

Introduce and approve budget

Answer 34

2/10

Question 35

AFS

Answer 35

2/10

Question 36

Public referendum vote to exceed 2.5 budget approp CAP

Answer 36

Last Tuesday of feb

Question 37

Budget Adoption

Answer 37

3/20

Question 38

Situations needing Majority vote of full gov body

Answer 38

• 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

Question 39

penalty for CFO filing AFS late

Answer 39

$5 per day

Question 40

Max fee that may be charged for RFP

Answer 40

$50

Question 41

min bond coverage per local unit official / officer

Answer 41

$1,000

Question 42

Bid threshold with / without QPA

P2P threshold

Answer 42

40,000 (increases every 5 years)
17,500
17,500

Question 43

quote threshold

Answer 43

15%

Question 44

$ or less a private bid sale may occur

Answer 44

1 million