[Prior code § 3.03]
A.
Departmental Estimates. When requested by the finance committee,
each year, each officer, department and committee shall file with
the Clerk an itemized statement of disbursements made to carry out
the powers and duties of such officer, department or committee during
the preceding fiscal year, and a detailed statement of the receipts
and disbursements on account of any special fund under the supervision
of such officer, department or committee during such year, and of
the conditions and management of such fund; also detailed estimates
of the same matters for the current fiscal year and for the ensuing
fiscal year. Such statements shall be presented in the form prescribed
by the Clerk and shall be designated a "departmental estimate" and
shall be as nearly uniform as possible for the main division of all
departments.
B.
Finance Committee to Prepare.
1.
Budget to Include. Each year the finance committee shall prepare
and submit to the board a proposed budget presenting a financial plan
for conducting the affairs of the Village for the ensuing calendar
year. The budget shall include the following information:
a.
The expense of conducting each department and activity of the
Village for the ensuing fiscal year and corresponding items for the
current year and last preceding fiscal year, with reasons for increase
and decrease recommended as compared with appropriations for the current
year;
b.
An itemization of all anticipated income of the Village from
sources other than general property taxes and bonds issued, with a
comparative statement of the amounts received by the Village from
each of the same or similar sources for the last preceding and current
fiscal year;
c.
An itemization of the amount of money to be raised from general
property taxes which, with income from other sources, will be necessary
to meet the proposed expenditures;
d.
Such other information as may be required by the board and by
state law.
2.
The Village shall provide a reasonable number of copies of the budget
thus prepared for distribution to citizens.
C.
Hearing. The board shall hold a public hearing on the budget as required
by law. Following the public hearing the proposed budget may be changed
or amended and shall take the same course in the board as ordinances.
[Prior code § 3.04]
The amount of the tax to be levied or certified, the amounts
of the various appropriations, and the purposes thereof shall not
be changed after approval of the budget except by a two-thirds vote
of the entire membership of the Village Board. Notice of such transfer
shall be given by publication within 15 days thereafter in the official
Village newspaper.
[Prior code § 3.05]
No money shall be drawn from the treasury of the Village, nor shall any obligation for the expenditure of money be incurred, except in pursuance of the annual appropriation in the adopted budget or when changed as authorized by Section 3.08.020 of this chapter. At the close of each fiscal year any unencumbered balance of an appropriation shall revert to the general fund and shall be subject to appropriation; but appropriations may be made by the board, to be paid out of the income of the current year, in furtherance of improvements or other objects or works which will not be completed within such year, and any such appropriation shall continue in force until the purpose for which it was made shall have been accomplished or abandoned.