Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Financial Planning topic
No spam. Unsubscribe anytime.
Whitefish Bay hires Ellers & Associates for financial management plan at $22,500
Summary
The board approved a $22,500 agreement with Ellers & Associates to develop a financial management plan to guide biannual borrowing, levy and utility-rate strategy and bond-rating considerations as the village evaluates a six-year CIP.
The Whitefish Bay Village Board on May 19 approved a $22,500 agreement with Ellers & Associates to prepare a financial management plan intended to guide the village’s multi-year borrowing strategy, levy forecasting and utility-rate planning.
Finance staff said the plan will produce analysis of levy limits, tax-rate projections, operating-budget forecasts and debt-capacity guidance. Staff noted statutory constraints: Wisconsin municipalities cannot exceed a debt limit of 5% of equalized value; under a flat-equalized-value assumption, staff said the village could borrow roughly $17.3 million bianually and remains below the statutory limit at current projections.
Staff also explained the option to issue revenue bonds for water projects — bonds that typically cost more but do not count against the general obligation debt limit and are serviced from the water-utility fund. Ellers will analyze tradeoffs, including potential bond-rating impacts, and provide recommendations that staff can use in preparing the 2026 budget and CIP borrow plan.
The agreement was moved, seconded and approved by voice vote. Staff will work with Ellers through fall with the goal of presenting a draft plan for board action in October.
