The fiscal year of the City of Rye shall be the calendar year.
On or before November 7 of each year, the City Manager shall submit to the Council a tentative budget for the ensuing fiscal year. In an accompanying message, the Manager shall outline proposed financial policies of the city for the ensuing fiscal year; describe the important features of the tentative budget; indicate any major changes from the current year in financial policies, expenditures and revenues together with the reasons for such changes; summarize the city's debt position; and include such other material as the Manager deems desirable. He shall also indicate therein the substantial changes which he has recommended, if any, in the budget estimates of the boards, commissions, departments, offices and agencies not under his direction and supervision.
A. 
Each board, commission, department, office and agency of the city shall submit to the City Manager, at a time and in such form as specified by the Manager, the budget estimates of such board, commission, department, office or agency for the ensuing year.
B. 
The tentative budget shall provide a complete financial plan of all city funds and activities for the ensuing year and, except as required by law or this Charter, shall be in such form as the City Manager deems desirable or the Council may require. It shall begin with a clear general summary of its contents; shall show in detail all anticipated revenues and proposed expenditures, including debt service, unsatisfied judgments, reserves for uncollected taxes and contingent purposes, the estimated surplus or deficit and reserves as may be available at the end of the current fiscal year, and the amount to be raised by taxation of property for the ensuing fiscal year; and shall be presented by such organization, program or classification system as the Manager deems appropriate and informative or the state or Council may require, with comparative figures of the actual and estimated income and expenditures of one or more prior fiscal years.
A. 
Upon receiving the tentative budget from the City Manager and prior to a public hearing, the Council may, by a vote of at least four members of the Council, make any changes in the tentative budget not inconsistent with the provisions of this section.
B. 
At any time prior to a public hearing, any board, commission, department, office or agency not under the direction and supervision of the City Manager may request the Council for a hearing with respect to its budget estimates.
C. 
After the Council has considered the tentative budget, it shall publish a notice stating where copies of the proposed budget are available for inspection by the public and the time and place of the public hearing on the proposed budget, which hearing shall be held not later than the first Wednesday in December of the current year and upon at least 10 days' notice.
[Amended 10-19-1988 by L.L. No. 14-1988]
D. 
After a public hearing, the Council may adopt the proposed budget with or without amendment. In amending the proposed budget, it may add or increase programs or amounts, and may decrease or delete programs or amounts, except expenditures required by law, or for debt service or for estimated cash deficit, provided that it may not increase the estimated revenues or the total proposed expenditures without the affirmative vote of at least five members of the Council.
E. 
The Council shall adopt the proposed budget and determine the tax rate for the ensuing year on or before December 31 of the current fiscal year. The adoption of the budget shall constitute appropriations of the amounts shown therein for the purposes specified and shall constitute a levy of the property tax therein proposed.
[Amended 2-1-1978 by L.L. No. 1-1978]
F. 
The Council shall certify to the City Comptroller the tax rate and the amount of the tax levy and direct him to apportion and extend against each taxable property listed upon the assessment roll at the rate specified the amount of tax required to produce the total sum certified and to render tax notices for, and receive and collect, the several sums so computed and determined.
[Amended 2-20-1991 by L.L. No. 1-1991]
The City Manager may at any time during the fiscal year transfer part or all of any unencumbered appropriation balance among programs or accounts within a department, office or agency under his supervision, and such transfers shall be reported to the Council at or prior to the next Council meeting. The Council may by resolution transfer part or all of any unencumbered appropriation balance among programs or accounts of a board or commission or within a department, office or agency, or from one board, commission, department, office or agency to another. No appropriation for debt service may be reduced or transferred, and no appropriation may be reduced below any amount required by law to be appropriated or by more than the amount of the unencumbered balance thereof.
All appropriations shall lapse at the close of the fiscal year to the extent that they shall not have been expended or encumbered.
No board, commission, department, office or agency of the city government shall expend or commit any funds of the city unless the City Comptroller shall first certify that there is an unencumbered balance of appropriation and funds available for the purpose.
The City Manager shall submit to the Council a capital program at least three months prior to the final date for the submission of the budget, listing the proposed capital improvements with appropriate supporting information, indicating the cost estimates, method of financing, recommended time schedules for each improvement, and the estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
[Amended 9-5-2001 by L.L. No. 3-2001; 12-15-2004 by L.L. No. 4-2004; 12-7-2011 by L.L. No. 8-2011; 11-2-2016 by L.L. No. 3-2016]
A. 
All bond resolutions, except as hereinafter provided, authorizing the issuance of bonds in excess of 30% of the average of the gross annual budget of the city for the preceding three years shall be adopted by a vote of at least five members of the council and shall be subject to the approval of a majority of the qualified voters voting at a general or special election.
B. 
The Council may, by a vote of at least five members thereof, authorize the issuance of bonds not in excess of 30% of the average of the gross annual budget of the city for the preceding three years, provided that the aggregate of the proposed bond issue and the outstanding obligations under bonds previously issued without being subject to any referendum does not exceed 30% of such average.
C. 
All bond resolutions, except as hereinafter provided, authorizing the issuance of bonds in excess of $1,000,000 for the acquisition of real property shall be adopted by a vote of at least five members of the council and shall be subject to the approval of a majority of the qualified voters voting at a general or special election.
D. 
The provisions of this section shall not apply to bond resolutions authorizing the issuance of bonds for the payment of judgment, or compromised or settled claims against the City, or awards or sums payable by the City pursuant to a determination by a court, or an officer, body or agency in an administrative or quasi-judicial capacity, or any capital improvement or equipment proposed to be constructed or acquired where the expense thereof, other than operation and maintenance, is to be borne by local assessment upon the several lots and parcels of land which the Council shall determine and specify to be especially benefited thereby, or capital improvements or equipment to be constructed or acquired which have been determined by resolution of the council to be required to implement a Federal, State or County of Westchester mandate failure of which to comply with could, in the judgment of the Council expressed in resolution, result in the imposition of a fine or penalty, or authorizing the issuance of obligations to be sold to the New York State Environmental Facilities Corporation or any successor thereto.
E. 
The provisions of this section shall not apply to bond resolutions authorizing the issuance of bonds for the payment of capital improvements or equipment proposed to be constructed or acquired for purposes determined by resolutions of the council to be required for public safety purposes requiring urgent action, in an amount not exceeding $1,000,000 in the aggregate in any fiscal year, and provided that on the date of adoption of said bond resolution, the Council determines that the aggregate of the proposed bond authorization and the outstanding principal amount of obligations previously issued for public safety purposes requiring urgent action in reliance on this paragraph E does not exceed $2,500,000. In making such determination, the Council shall disregard certain such outstanding obligations to the extent provided below. Such determination shall be conclusive for all purposes of this paragraph E, irrespective of whether through inadvertence or otherwise such determination is later found to be inaccurate. In the event that the Council determines that the aggregate of the proposed bond authorization and the outstanding obligations issued for public safety purposes requiring urgent action exceeds $2,500,000, the Council may authorize a mandatory public referendum on the question of whether such bond authorization shall become effective. In the event of approval of such authorization at a referendum, such authorization shall become effective and i) the obligations issued or to be issued in reliance on such bond authorization, and ii) the outstanding amount of obligations previously issued or authorized for public safety purposes requiring urgent action in reliance on this paragraph E on the date of adoption of such bond authorization, shall be thereafter disregarded for all purposes of this paragraph E.
F. 
The provisions of this section shall not apply to bond resolutions authorizing the issuance of bonds for the payment of capital improvements or equipment proposed to be constructed or acquired for purposes determined by resolution of the Council to be required for natural disaster reconstruction as a result of a natural disaster, as declared by the Federal Government or the State government requiring urgent action, in an amount not exceeding $2,500,000 in the aggregate in any fiscal year, and provided that on the date of adoption of said bond resolution, the Council determines that the aggregate of the proposed bond authorization and the outstanding principal amount of obligations previously issued for natural disaster reconstruction purposes requiring urgent action in reliance on this paragraph F does not exceed $2,500,000. In making such determination, the Council shall disregard certain outstanding obligations to the extent provided below. Such determination shall be conclusive for all purposes of this paragraph F, irrespective of whether through inadvertence or otherwise such determination is later found to be inaccurate. In the event that the Council determines that the aggregate of the proposed bond authorization and the outstanding obligations issued for natural disaster reconstruction purposes requiring urgent action exceeds $2,500,000, the Council may authorize a mandatory public referendum on the questions whether such bond authorization shall become effective. In the event of approval of such authorization at a referendum, such authorization shall become effective and i) the obligations issued or to be issued in reliance on such bond authorization, and ii) the outstanding amount of obligations previously issued or authorized for natural disaster reconstruction purposes requiring urgent action in reliance on this paragraph F on the date of adoption of such bond authorization, shall be thereafter disregarded for all purposes of this paragraph F.
G. 
The provisions of this section shall not apply to bond resolutions authorizing the issuance of bonds for the payment of capital improvements or equipment proposed to be constructed or acquired for a purpose determined by resolution of the Council in an amount not exceeding an amount determined by resolution of the Council in any fiscal year if the principal of and interest on the bonds is paid first from moneys in an enterprise fund. For purposes of this Subsection G an enterprise fund shall be an account separate from the general fund containing user fees or assessments paid for a service or purpose of the City, in lieu of or in addition to real property taxes. No bonds shall be authorized or issued pursuant to the provisions of this Subsection G unless: 1) the Council or a committee thereof holds a public hearing upon no less than ten (10) days' notice prior to taking action on such bond resolution, at which hearing the object or purpose to be financed and financial tests relating to such object or purpose are presented; and 2) the financing structure and the object or purpose to be financed with such bonds has been approved by a majority of the Council. For the purpose of this Subsection G, financial tests shall mean: i) financial statements of the enterprise fund for the current and last four fiscal years demonstrating that full coverage of operating and debt service expenses have been paid in full from user fees or assessments in the enterprise fund as verified by the City Comptroller and the City Manager; ii) pro forma financial statements for the next five fiscal years demonstrating full coverage of operating expenses, outstanding debt service, and debt service generated from the issuance of such bonds as verified by the City Comptroller and the City Manager; iii) a current fiscal year reserve in the enterprise fund equal to or in excess of 10% of current year operating and debt service expenses; iv) a pro forma reserve in the enterprise fund for each fiscal year such bonds are outstanding equal to or in excess of 10% of pro forma operating expenses, outstanding debt service and debt service generated from the issuance of such bonds in each such fiscal year; and v) representations to the Council by the enterprise fund that such fund shall establish user fees and assessments to be paid at the times and in the amounts sufficient to satisfy the requirements of clauses ii) and iv) of this Subsection G.
[Added 9-18-2019 by L.L. No. 6-2019]
[Added 9-17-1986 by L.L. No. 13-1986]
The City Comptroller shall require from any bank, trust company or other depositary in which the funds of the city are deposited, whether in certificates of deposit, time deposits or demand deposits, pledged collateral consisting of bonds, certificates or notes of the United States of America, or any obligation fully guaranteed or insured as to interest and principal by the United States of America, acting through an agency, subdivision, department or division thereof, the State of New York, or bonds or notes of any municipal corporation, school district or district corporation of the State of New York, as security for the funds deposited. Such bonds, certificates or notes shall be subject to the approval of and be deposited in such place and under such conditions as the City Comptroller may determine.