Wisconsin Administrative Code › Department of Agriculture, Trade and Consumer Protection › ATCP 90-139 - Trade and Consumer Protection › Chapter ATCP 93 - Flammable, Combustible, And Hazardous Liquids › Subchapter VII - Financial Responsibility › Section ATCP 93.730 - Local government financial test

Current through June 24, 2024
(1) To use a
				  financial test to meet the financial responsibility requirements of s.
				  ATCP
				  93.705, a local government owner or operator shall
				  pass the financial test specified in this section. To be eligible to use the
				  financial test, the local government owner or operator shall have the ability
				  and authority to assess and levy taxes or to freely establish fees and charges.
				  To pass the local government financial test, the owner or operator shall meet
				  the criteria of this section based on year-end financial statements for the
				  latest completed fiscal year.
(2)
				  The local government owner or operator shall have the following information
				  available, as shown in the year-end financial statements for the latest
				  completed fiscal year:
(a) Total revenues
				  consisting of the sum of general fund operating and non-operating revenues
				  including net local taxes, licenses and permits, fines and forfeitures,
				  revenues from use of money and property, charges for services, investment
				  earnings, sales of assets such as property and publications, restricted and
				  unrestricted intergovernmental revenues, and total revenues from all other
				  governmental funds including enterprise, debt service, capital projects, and
				  special revenues, but excluding revenues to funds held in a trust or agency
				  capacity. For purposes of this test, the calculation of total revenues excludes
				  all transfers between funds under the direct control of the local government
				  using the financial test, liquidation of investments and issuance of
				  debt.
(b) Total expenditures
				  consisting of the sum of general fund operating and non-operating expenditures
				  including public safety, public utilities, transportation, public works,
				  environmental protection, cultural and recreational, community development,
				  revenue sharing, employee benefits and compensation, office management,
				  planning and zoning, capital projects, interest payments on debt, payments for
				  retirement of debt principal, and total expenditures from all other
				  governmental funds including enterprise, debt service, capital projects, and
				  special revenues. For purposes of this test, the calculation of total
				  expenditures excludes all transfers between funds under the direct control of
				  the local government using the financial test.
(c) Local revenues consisting of total
				  revenues, as defined in par. (a) , minus the sum of all transfers from other
				  governmental entities, including all monies received from federal, state, or
				  local government sources.
(d) Debt
				  service consisting of the sum of all interest and principal payments on all
				  long-term credit obligations and all interest-bearing short-term credit
				  obligations. For purposes of this test, debt service includes interest and
				  principal payments on general obligation bonds, revenue bonds, notes,
				  mortgages, judgments, and interest bearing warrants. For purposes of this test,
				  debt service excludes payments on non-interest-bearing short-term obligations,
				  interfund obligations, amounts owed in a trust or agency capacity, and advances
				  and contingent loans from other governments.
(e) Total funds consisting of the sum of cash
				  and investment securities from all funds, including general, enterprise, debt
				  service, capital projects and special revenue funds, but excluding employee
				  retirement funds, at the end of the local government's financial reporting
				  year. For purposes of this test, the calculation of total funds includes
				  federal securities, federal agency securities, state and local government
				  securities, and other securities such as bonds, notes, and mortgages. For
				  purposes of this test, the calculation of total funds excludes agency funds,
				  private trust funds, accounts receivable, value of real property, and other
				  non-security assets.
(f) Population
				  consisting of the number of people in the area served by the local
				  government.