[HISTORY: Adopted by the Town Council of the Town of Pinedale 1985 by Ord. No. 175 (Ch. 3.01 of the 1983 Municipal Code). Amendments noted where applicable.]
As used in this chapter, the following terms shall have the meanings indicated:
- An allocation of money to be expended for a specific purpose.
- A plan of financial operations for a fiscal year, embodying estimates of proposed expenditures for given purposes, the proposed means of financing them, and what the work or service is to accomplish.
- BUDGET OFFICER
- The Town Administrator or any other official so designated by the Town Council.
- BUDGET YEAR
- The fiscal year for which a budget is proposed.
- CURRENT YEAR
- The fiscal year in which a budget is prepared and adopted for the ensuing budget year.
- A functional unit within a fund which carries on a specific activity, such as the Police Department, within the general fund.
- ESTIMATED REVENUE
- The amount of revenues estimated to be received in each fund during the budget year.
- FISCAL YEAR
- The annual period for recording fiscal operations; the fiscal year begins on July 1 and ends on June 30.
- FUND BALANCE
- The excess of that fund's assets over its liabilities, reserves and contributions.
- FUND DEFICIT
- The excess of that fund's liabilities, reserves and contributions over its assets.
- That a given course of action is permitted, but not required.
- A sum of money which has been set aside within a given fund to accomplish one or more of the following purposes:
- A. Provide for capital improvements appropriate to that fund;
- B. Fund depreciation of capital facilities or rolling stock utilized in those operations whose appropriations are derived from that fund;
- C. Provide for emergency expenditures within that fund;
- D. Meet ordinary obligations of that fund during a period of revenue shortfall.
- That a given course of action is mandatory, and must be undertaken whenever all prerequisite conditions attached to that course of action have been met.
- UNANTICIPATED INCOME
- Income received during the budget year which could not reasonably have been expected to be available during the current year.
- UNAPPROPRIATED SURPLUS
- That portion of the fund balance for a budgetary fund which has not been appropriated or reserved in an ensuing budget year.
The Town shall prepare a budget for each fiscal year. The budget shall conform to such format as the budget officer or Town Council may direct, and shall include a budget for each fund which is required by law. The budget shall be adopted, realigned and amended as hereinafter provided.
On or before May 15, the budget officer shall prepare a tentative budget for each fund, consolidate those budgets into one unified budget proposal, and distribute same to the Town Council.
This unified budget shall include:
Actual revenues and expenditures in the last completed fiscal year;
Estimated revenues and expenditures for the current fiscal year;
Estimated available revenues and proposed expenditures for the ensuing budget year;
Estimated costs of proposed staffing, capital improvements, capital facilities improvements, rolling stock purchases, major equipment purchases, equipment and rolling stock depreciation contributions, specific work programs and other line expenditures necessary to justify and support each department's proposed budget; and
Such other information as the Town Council may prescribe.
It shall be accompanied by a budget message, outlining proposed financial policies for the ensuing budget year, detailing any significant features of the proposed budget, and explaining fully any major changes from the current year in appropriations, estimated revenues, and fiscal policy.
Upon receipt of the unified budget proposal, the Mayor shall set a time and date for each department head to meet with the budget officer and the Council to examine that department's budget and air any opposing viewpoints. These meetings will be informal working sessions held as special meetings or as part of regularly scheduled meetings. Upon concluding these meetings, the budget officer may revise his proposed budget as seems advisable. He shall then cause the revised proposed unified budget to be published in the newspaper or by posting three or more copies in conspicuous places, as provided by law.
[Amended 8-23-2010 by Ord. No. 461; 1-27-2014 by Ord. No. 506]
After the Council has had an opportunity to examine the proposed budget, the Mayor shall schedule the budget for public hearing. This hearing may be held at a regular meeting of the Town Council or at a special meeting called for this purpose, at the Mayor's discretion, but it shall not be scheduled until at least one week after the proposed budget has been published as provided in Subsection B of this section.
At or following the public hearing under Subsection C above, the Council shall proceed to adopt the budget. The necessary appropriations shall be made by ordinance, which shall be adopted at three separate hearings spanning not less than 10 calendar days, as provided by law. The budget proper shall be incorporated by reference within the appropriations ordinance and shall be treated as an integral part thereof.
[Amended 2002 by Ord. No. 357]
All purchases and encumbrances on behalf of the municipality shall be made or incurred only upon an order or approval of the person duly authorized to make such purchases, and all such expenditures and encumbrances shall be in accordance with the budget.
[Amended 8-23-2010 by Ord. No. 461]
For purposes of this section, department heads are authorized to approve expenditures of up to $500; the Mayor, or in the Mayor's absence, the Mayor pro tempore, is authorized to approve expenditures of up to $2,500. Any expenditures or encumbrances in excess of these limits must be approved in advance by the Council unless that expenditure is a specified line item in the approved budget for the fiscal year in which that expenditure will be presented to the Council for auditing and payment.
Retained earnings may be accumulated in any enterprise fund or intergovernmental service fund. These earnings may be used to defray any legal obligation of that fund or provide for capital improvements and depreciation, as the Town Council or governing body shall determine.
Accumulated reserves may be used for four purposes:
Provide capital improvements appropriate to the fund;
Provide for depreciation of capital facilities or rolling stock utilized in those operations whose appropriations are derived from that fund;
Meet ordinary obligations of the fund during periods of revenue shortfall.
Revenues shall be designated for one of the above purposes and shall be used only for the purpose designated unless they shall first be reappropriated and redesignated in a subsequent or amended budget.
At the request of the budget officer or upon its own motion, the Council may, after publication of notice, by resolution transfer any unencumbered or unexpended appropriation balance or part thereof from one fund, department or account to another.
The budget of the general fund may be increased by ordinance or resolution. The Council shall first publish notice and provide for public hearing on the proposed amendment. The source of this revenue must be indicated, whether it be unanticipated income, unappropriated surplus, newly instituted taxes or licenses, donations, or transfers from established revenues. The property tax levy may be amended by ordinance only and shall require the affirmative vote of three-fourths of the Council.
If the Town Council declares that an emergency exists, it may authorize expenditure of money in excess of the general fund budget from those revenues specified under § 12-5C(3) above. Said declaration shall be by resolution, and notice of same shall be published in the newspaper or posted in three prominent places within the Town.