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Government

©2000-2006 Village
Of Plover
Designed & Maintained By
The Village of Plover

TREASURER DEPARTMENT

MISSION STATEMENT

To provide professional financial management services as mandated by the Wisconsin State Statutes and required by the Village Board, Village Departments, and other governmental units.  The Village of Plover Treasurer is committed to maintaining the Village's solid financial position, while providing quality service to Village taxpayers by the use of sound financial strategies and the promotion of efficiency in the provision of municipal services in order to maintain control of property taxes.

Primary Services

The Village Treasurer/Finance Director is responsible for the precise, accurate, and timely processing of all funds received and disbursed by the Village of Plover, and oversees the implementation and observance of the Village's $8.9 million dollar annual budget.  Other duties performed by the Treasurer/Finance Department include, but are not limited to:

Other topics of interest:

Real Estate and Personal Property Tax Payments.    Each year, tax statements are mailed to property owners in early December.  The Village of Plover is on a two-installment tax payment system.  The first installment is due on or before January 31, and the second installment is due on or before July 31 of each year.  Tax payments are made directly to the Portage County Treasurer, County-City Building, 1516 Church Street, Stevens Point, WI  54481.

Budget Information:  The 2008 General Fund Budget was approved by the Village Board on November 7, 2007.  Detailed copies of the Budget are available at the Village Office, Plover Municipal Center, 2400 Post Road, Plover.    

Financial Strength: 
The Village of Plover's conservative fiscal policy has resulted in its' strong financial position.  Each year, Village administration strives to increase the year-end undesignated fund balance.   A healthy undesignated fund balance is required to cover cash-flow requirements in the interim between receipt of tax revenues in January, and the receipt of major state aids in November of each year.

Capital Projects/Equipment Reserve Funds
The Village has implemented the use of reserve funds for large equipment purchases.   Major expenditures are planned for and budgeted for over a period of years, so that funds are accumulated for the purchase of the equipment.  This policy eliminates fluctuations in the tax levy, as the budgeted amounts each year are kept as  consistent as possible.

Debt Service
Municipalities issue "General Obligation Bonds" in order to finance large projects. The principal and interest payments made over the lifespan of the bonds are referred to as "Debt Service".

The Village currently has an outstanding balance of $6,505,000 in Long Term Debt. The two existing debt issues have financed a multitude of projects, some of which are the Plover Municipal Building, Police Department addition, Village Garage construction, various street construction projects, storm sewers, industrial park development, and most recently, the reconstruction of Hoover Avenue from Cedar Drive north to County HH.

Wisconsin Statutes limit the amount of indebtedness a municipality can incur to 5% of the municipality's equalized valuation. Based on the Village's 2005 equalized value of $867,030,700, the maximum allowable debt capacity is $43,351,000.

The Village has received an excellent  Bond Rating of  "A2" from  Moody's Investors Service, and is proof of the Village of Plover's financial strength.  This rating allows the Village to issue municipal bonds at the lowest possible interest rate, which results in lower costs for Village projects, and ultimately results in lower costs for Village property owners. 

Tax Incremental Finance Districts
Wisconsin’s Tax Incremental Finance (TIF) program was approved by the State Legislature in 1975.  It’s purpose is to provide a means for a city or village to promote tax base expansion through its own initiative and effort.  Prior to its’ enactment, the State legislature found that municipalities were postponing or canceling public improvements that would allow new development because their taxpayers paid the price, while everyone that shared the expanded tax base profited.  Establishing a Tax Incremental Finance District relieved this inequity by allowing the municipality to accumulate the tax revenue from the increased tax base to finance the development costs incurred.

When a TIF district is created, the equalized value of the district is established by the Department of Revenue.  This is called the Tax Incremental Base.  The municipality then installs public improvements, and the property values grow.  Taxes paid on the increased value are used to pay for the public improvement projects undertaken by the municipality.  This is the Tax Increment.  It is based on the increased value of the TIF district and levies of all the taxing jurisdictions that share in the tax base.  The village, county, and school districts do not benefit from the taxes collected on value increases in the district until all project costs have been recovered.  After that, the added value is included in the apportionment process and everyone gains. 

The underlying assumption of the TIF Law is that no new development would have taken place if the village had not created the TIF district.  Public improvement costs needed to develop or redevelop the area would have been too prohibitive for the village to do alone, without the TIF increment revenue to cover financing costs.

The Village currently has three active TIF Districts. TIF District #3, created in 2003, is the Pines Corporate Centre Business Park Development at the northeast corner of Grant Avenue and STH 54. TIF #4, created in 2004, is the Village Park at Plover Commercial Development at the intersection of County Highway B and I-39. TIF District #5, created in 2005, commercial and residential development east of I-39 and south of CTH B.

Dog Licenses.   Dog licenses can be obtained at the Village Office in the Municipal Center, Monday through Friday, 7:30 am to 4:30 PM.  License fees are $8.00 for spayed or neutered dogs, and $18.00 for un-spayed or un-neutered dogs.  A current copy of the dog's rabies verification certificate from the veterinarian is required for issuance of licenses.   Licenses can also be obtained by mail.  Simply mail the rabies certificate along with the applicable license fee to:  Village of Plover, P. O. Box 37, Plover, WI  54467.   The rabies verification certificate and the license tag will be returned to you by mail.

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