City of Madison, Wisconsin | Legislative Information Center
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File #: 40947    Version: 1 Name: Affiliated organizations for the City
Type: Ordinance Status: Passed
File created: 11/20/2015 In control: BOARD OF ESTIMATES (ended 4/2017)
On agenda: 1/19/2016 Final action: 1/19/2016
Enactment date: 1/29/2016 Enactment #: ORD-16-00009
Title: Creating Section 4.29 of the Madison General Ordinances relating to affiliated organizations for the City of Madison.
Sponsors: Michael E. Verveer
Fiscal Note
No appropriation required. This ordinance establishes processes and policies for affiliated organizations that raise funds for City operations. Depending on the interaction of these organizations with the City, the financial statements of the organization may be included in the City's financial statements.
Title
Creating Section 4.29 of the Madison General Ordinances relating to affiliated organizations for the City of Madison.
Body
DRAFTER'S ANALYSIS: There are a number of non-profit organizations that raise funds for City operations, such as the Library Foundation or the Parks Foundation. The City has no codified policies regarding operation of these entities, and this ordinance is to create some minimal rules. The Government Accounting Standards Board (GASB) has standards that require the City to include some of these affiliated organizations (AO) in its annual financial statements as a component unit if the AO meets certain GASB criteria. Under this ordinance, AOs must have articles of incorporation and bylaws, must register with the City Clerk’s office, and must manage their own funds. The ordinance also establishes rules for gifts to the City.
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