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Scope and Content Note

This series consists of printed forms used for computing constitutional taxing power of villages. That limit is arrived at by subtracting the amount of taxes levied for general village purposes from the amount of total village taxing power. The forms are completed, signed, and dated by the fiscal officer of the village and filed with the Department of Audit and Control, which has responsibility for supervising the fiscal affairs of all units of local government. Since 1905, municipalities have been required to adopt uniform fiscal reporting systems and to file annual reports for examination by the department.

The forms include the following information: name of reporting village and its county; beginning and ending dates for the fiscal year for which the report is filed; general information on the village's assessment rolls, budget, tax rate, and taxable assessed valuation; and computation of the tax limit.

The computation itself provides the following fiscal information: average full valuation (based on the last five completed assessment rolls); total full valuation; exclusions from the tax limit (usually consisting of bonds and notes for revenue producing improvements or services); and total village taxing power.