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Clerk: Department of Revenue flagged 30-year levy error; village may need to repay fire-truck loan from general fund
Summary
Village Clerk Laurie Sweeney told trustees the Wisconsin Department of Revenue found that a fire-truck loan is worded as an equipment lease and cannot be carried on the levy; there will be no penalty for prior years, but the loan amount for this year may need to be repaid and removed from the levy.
Village Clerk Laurie Sweeney told the board Jan. 13 that the Wisconsin Department of Revenue (DOR) reviewed the village’s levy worksheet and found an issue with how a fire-truck loan has been recorded.
Clerk Sweeney said she submitted loan paperwork to the DOR after the levy worksheet appeared to exceed the allowable levy. The DOR informed her that the fire-truck financing is worded as an equipment lease—meaning it may not be eligible to be carried on the tax levy. Clerk Sweeney said the village has treated the loan this way for more than 30 years and that the DOR indicated there will be no penalty for prior years, but that the loan amount for this year may have to be repaid to the DOR and taken out of the general fund if the arrangement remains a lease.
Clerk Sweeney told trustees she has the emails and paperwork to verify the DOR’s finding. The board did not take immediate action during the meeting; auditors who visited Jan. 8 will return Feb. 13–14 to continue the audit. Clerk Sweeney also reported that ordinance recodification work is in progress and that she will meet with the recodification company to review questions and proposed changes.
