Wisconsin Administrative Code
Technical College System Board
Chapter TCS 7 - District Budget, Audit And Finance
Section TCS 7.05 - District budgets and financial disclosure

Universal Citation: WI Admin Code ยง TCS 7.05

Current through February 27, 2023

(1) FISCAL YEAR. Annually, each district board shall develop and adopt a budget for a fiscal year commencing July 1st and ending the succeeding June 30th. The entire summer session of a district shall be budgeted and accounted for in the fiscal year in which the session terminates.

(3) DISTRICT DISCLOSURE OF FUND BALANCES. At the hearing required under s. 65.90, Stats., each district board shall disclose any fund type balance, and shall specify the purposes for which these balances are to be used by fund type.

(4) DISTRICT BUDGET ADOPTION. Each district board shall adopt a budget that discloses indebtedness of the district, anticipated revenues, including anticipated fund balances by fund type and revenue source and proposed expenditures by fund type and function as required under this chapter. Adoption of a budget by fund type and function within a fund type shall constitute the appropriations of the district under s. 65.90, Stats.


(a) Each district board may establish reserves and segregate a portion of a fund balance for a specific use for a specific period.

(b) Prior to the creation of a reserve, a district board shall adopt a resolution creating the reserve. The resolution shall state the specific purpose of the reserve, disclose the maximum amount that this reserve may accumulate to and specify the intended period of time over which the reserve shall exist. Nothing in this section shall preclude a district board from increasing or decreasing the amount of the reserve, provided the district board passes a resolution to this effect.

(c) No district board may establish or maintain reserves for contingent purposes.

(d) Prior to the adoption of its budget, each district shall disclose all reserves maintained by it, the amount contained in each reserve and the anticipated amount by which each reserve will be increased or decreased during the year for which the budget is adopted.

(6) REVIEW OF PROPERTY TAX LEVY. Prior to certifying the property tax levy under s. 38.16(1), Stats., each district board shall recalculate the anticipated amount of financial resources available for district operations, using the most current data available at the district, to determine if the property tax levy should be adjusted.

(7) MODIFICATIONS TO BUDGET AFTER ADOPTION. Changes to the budget approved by the district board shall be by fund type or function within a fund type and shall be in accordance with s. 65.90, Stats.

Cr. Register, September, 1983, No. 333, eff. 10-1-83.

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