Wisconsin Statutes 60.40 – Preparation and adoption of budget
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Terms Used In Wisconsin Statutes 60.40
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Town: may be construed to include cities, villages, wards or districts. See Wisconsin Statutes 990.01
- Town board: means the town board of supervisors. See Wisconsin Statutes 990.01
- Year: means a calendar year, unless otherwise expressed; "year" alone means "year of our Lord". See Wisconsin Statutes 990.01
(1) Fiscal year; annual budget. The town fiscal year is the calendar year. A town budget shall be adopted annually.
(2) Preparation. The town board is responsible for preparation of the proposed budget required under s. 65.90. In preparing the budget, the town board may provide for assistance by any person.
(3) Hearing. The town board shall conduct the budget hearing required under s. 65.90.
(4) Adoption. The town board shall adopt the town budget.
(5) Amendment. The town budget may be amended by the town board under s. 65.90 (5).