Town of Mineral, VA Chapter 32 Finance

[HISTORY: Adopted by the Town Council of the Town of Mineral 2-12-2007 by Ord. No. 2007-02 (§§ 2-1, 2-3 and 2-38 of the 1982 Code). Amendments noted where applicable.]

§ 32-1 Fiscal year.

The fiscal year of the Town shall begin on the first day of July of each year and shall end on the 30th day of June.

§ 32-2 Execution of checks for disbursement of Town funds. [1]

The Town Clerk is hereby authorized to sign checks for duly authorized disbursements of Town funds, which checks also shall be countersigned by the Mayor or Vice Mayor, the Town Manager or such other Town employee as may be designated by the Mayor.

[1] Editor's Note: See also Ch. 70, Officers and Employees, § 70-5, Treasurer.

§ 32-3 Annual budget. [1]

The Budget and Finance Committee shall prepare annually for submission to the Council at its regular meeting during the month of April of each year, or within 30 days after the General Assembly has enacted a budget for the commonwealth, whichever is later, a budget for the ensuing fiscal year beginning July 1, which such budget shall set forth:

A. The total assessed valuation of all property, real, personal and mixed, located within the Town limits and taxable by the Town.

B. A classified list of all sources of revenue other than those included under Subsection A above, together with the estimated amount of revenue to be received from each.

C. The estimated expenditure that will be required for the maintenance and improvement of the Town and its properties.

D. Such rate of tax on property, real, personal and mixed, not exceeding the limitation fixed by law, as will be required in order to meet the deficiency between Subsection C above and the estimated revenue under Subsection B above.

[1] Editor's Note: Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. III).