Budget and Finance Basics Yunji Kim Assistant Professor/Extension Specialist
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This document is an educational presentation on budget and finance basics for town officials, delivered by Yunji Kim of UW-Madison at the 2019 Spring Town Officials Workshop. The presentation covers why budgets matter, budget constraints in Wisconsin, and budget components, with particular focus on Wisconsin's levy limit regulations that have restricted local government property tax increases since 2005 to the percentage change in net new construction or 0% annually. The material explains that towns can exceed the levy limit through specific procedures—towns under 3,000 population via town board resolution and town meeting, and larger towns via town board resolution and referendum—with non-compliance resulting in dollar-for-dollar reductions in state aid, and notes that such overrides remain rare with only 19 approved between 2006 and 2017.
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