The fiscal year of the Borough shall begin on the first day of January and end on the last day of December of each year.
On or before the fifteenth (15th) day of November of each year, the Borough Manager shall submit to the Council a proposed budget for the ensuing fiscal year and an accompanying budget message.
A. 
The budget shall provide a complete financial plan of all Borough funds and activities for the ensuing fiscal year and, except as required by this Charter, shall be in such form as the Council may require. In organizing the budget, the Borough Manager shall utilize the most practical combination of expenditure classification by fund, organization unit, program, purpose of activity, and object. The budget shall contain, inter alia, the following:
(1) 
It shall begin with a general summary of its contents.
(2) 
It shall show in detail all estimated income, indicating the existing and proposed tax levies, as well as other assessments, fees and charges.
(3) 
It shall show all proposed expenditures, including debt service, for the ensuing fiscal year.
(4) 
It shall show the number of proposed employees in every job classification.
(5) 
It shall be so arranged as to show comparative figures for actual and estimated income and expenditures for the current fiscal year and actual income and expenditures of the preceding fiscal year.
(6) 
It shall indicate proposed operating expenditures during the ensuing fiscal year, detailed by offices, departments and agencies, in terms of their respective work programs and the methods of financing such expenditures.
(7) 
It shall indicate proposed capital expenditures during the ensuing fiscal year, detailed by offices, departments and agencies when practicable, and the proposed method of financing each such capital expenditure.
B. 
The total of proposed expenditures shall not exceed the total of estimated income.
The Borough Manager's message shall explain the budget both in fiscal terms and in terms of programs. It shall outline the proposed financial policies of the Borough for the ensuing fiscal year, describe the important features of the budget, indicate any major changes from the current year in financial policies, expenditures, and revenues, together with the reasons for such changes, summarize the Borough's debt position, and include such other materials as the Borough Manager deems desirable or as the Council requests.
The annual budget shall be a public record and shall be available for public inspection after submission and prior to adoption and after adoption.
The annual budget shall be adopted by ordinance, subject to the approval or veto of the Mayor. The Mayor may veto individual items in the annual budget. Each item or items vetoed is subject to the power of the Borough Council to over-ride the veto, as herebefore provided. Final adoption of the budget shall occur prior to the commencement of the year for which it is prepared, but only after it has been available for public inspection, after due notice, for at least ten (10) days. If Council fails to adopt the budget on or before December 31st, the amounts appropriated for current operation for the current fiscal year shall be deemed adopted for the ensuing fiscal year on a month-to-month basis, with all items in it prorated accordingly, until such time as the Council adopts a budget for the ensuing fiscal year.
A. 
The Council may authorize or ratify modifications of the budget during the year for which it is prepared; provided, however, that where the aggregate of modifications results in an increase or decrease of a departmental appropriation by more than fifteen percent (15%) of the originally approved budget, such modification shall be by ordinance only.
B. 
The revised budget shall show the original budgeted amounts in one column with a separate adjacent column listing the revised budgeted amounts.
C. 
To meet a public emergency affecting life, health, property or the public peace, the Council may make emergency appropriations. Such appropriations may be made by emergency ordinance, but such ordinances may not levy taxes, grant, renew or extend a franchise, or authorize the borrowing of money except to the extent that there are no available unappropriated revenues to meet such appropriations. The Council may by such emergency ordinance authorize the issuance of emergency notes which may be renewed from time to time.
A. 
No expenditure or payment of any funds of the Borough shall be made except upon approval of Council; provided, however, that payroll and utility expenditures may be made at the direction of the Borough Manager where based upon a prior ordinance or contract. Directives for payment, as approved by the Council, shall be certified by the Borough Manager to the authorized signers. All checks or drafts of the Borough shall be signed by:
(1) 
The Mayor or one designated member of Council other than the President or Vice President of Council.
(2) 
The President of Council or, in his absence, the Vice President of Council.
(3) 
The Borough Manager.
The Council shall provide for an independent annual audit of all Borough accounts by a certified public accountant who has no personal interest, direct or indirect, in the fiscal affairs of the Borough government or any of its elected or appointed officers. The Council may provide for more frequent audits, as well as special audits, as it deems necessary. The results of the annual audit and a financial statement of the fiscal affairs of the Borough shall be presented to the Council and published in a newspaper of general circulation in the Borough by April 1st of the year following the fiscal year audited.
The specific laws of the Commonwealth of Pennsylvania governing the auditing, adjusting and settlement of accounts of the officers of the Borough and the appeal therefrom shall continue to apply to all such matters.
Before entering upon the duties of their respective offices or positions, the Borough Manager and the Borough Mayor, as well as any other officer, agent or employee of the Borough as the Council may determine, shall each execute and file with the Borough a surety bond with a corporate surety authorized to do business in the Commonwealth of Pennsylvania, conditioned for the honest and faithful performance of his respective duties, in such sums as shall be fixed by the Council. Any such bond and surety thereon, before being accepted by the Borough, shall be approved by the Borough Solicitor. The agency placing such bond shall be determined by the Council, and the premium therefor shall be paid by the Borough. Such bond may provide for one or more additional obligees in the event that the officer bonded is acting in a dual or similar capacity with other political subdivisions or governmental or quasi-governmental entities.
Council shall follow the provisions of the law as established by the General Assembly from time to time for the borrowing of money by municipalities.