[Charter, 5/21/1974, § 901]
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. The fiscal year may be changed by resolution of the Council, or shall be automatically changed when mandated by State Law.
When a change is made, Council shall determine the procedures and fiscal arrangements for the transition.
[Charter, 5/21/1974, § 902]
Council shall have the power to levy any taxes which are permitted by the Pennsylvania Constitution and authorized for Borough application by action of the General Assembly.
At the time the budget is adopted by Council, the required tax levies proposed in the budget are considered to be adopted or readopted unless a separate ordinance action is mandated by State law.
[Charter, 5/21/1974, § 903]
On or before the 15th day of November of each year the Manager shall submit to the Council a proposed budget for the ensuing fiscal year and an accompanying message. The submission date and other subsequent dates affecting the budget may be changed by Council, when desirable, to provide for greater fiscal efficiency or when mandated by State law.
[Charter, 5/21/1974, § 904]
The Manager's budget message shall explain the budget both in fiscal terms and in terms of programs, policies, activities and plans. It shall outline the proposed financial policies of the Borough for the ensuing year; describe the important features of the budget, indicate any major changes in financial policies, expenditures and revenues from the current year, together with the reasons for such changes; summarize the Borough's debt position and include such other material Council may request or as the Manager deems desirable.
[Charter, 5/21/1974, § 905]
The budget document shall provide a complete financial plan of all Borough funds and activities for the ensuing fiscal year and, except as required by law or this Charter, shall be in such form as the Manager deems desirable or as Council may require. The budget document shall provide that the budget submitted for each fund is balanced and that the total of proposed expenditures shall not exceed the total of the estimated revenue.
[Charter, 5/21/1974, § 906]
The Manager shall prepare and include as a separate section in the annual budget submitted to Council a capital program of capital expenditures of a nonrecurring and long-range nature, as the Manager shall deem desirable or as Council may require.
[Charter, 5/21/1974, § 907]
Council shall publish in one or more newspapers of general circulation in the Borough the general summary of the budget and a notice stating:
A. 
The times and places where copies of the budget message and budget document are available for inspection by the public.
B. 
The time, place, and date, not less than fifteen (15) days after such publication, for a public hearing on the budget.
[Charter, 5/21/1974, § 908]
1. 
Amendment Before Adoption. Following the public hearing, Council may adopt the budget with or without amendment. In amending the budget, Council may add or increase programs or amounts, except for expenditures required by law, or for debt service; or may reduce or delete programs or amounts provided that no amendment to the budget shall increase the authorized expenditures to an amount greater than the total of estimated revenue.
2. 
Adoption. Council shall adopt the budget by resolution on or before the last day of the fiscal year currently ending
3. 
Appropriations. Adoption of the budget shall constitute the appropriation of the amounts specified therein as expenditures from the funds indicated, and shall constitute a levy of the taxes therein proposed.
[Charter, 5/21/1974, § 909]
Copies of the budget, as adopted, and of the capital program plan shall be public record and shall be made available to the public at suitable places in the Borough as determined by Council.
[Charter, 5/21/1974, § 910]
1. 
Supplemental Appropriations. If, during the fiscal year, there is evidence of a need for a supplemental appropriation and there is available unencumbered revenues in excess of those estimated in the budget, Council may, by resolution, make such supplemental appropriations for the year in an amount not to exceed such excess.
2. 
Emergency Appropriations. To meet a public emergency affecting life, health, property or the public peace, Council may, during the year, by ordinance, make emergency appropriations.
3. 
Reduction in Appropriations. If, at any time during the fiscal year, it appears probable that the revenues available will be insufficient to meet the amounts appropriated, Council shall take such action as it deems necessary to prevent or minimize any deficit, and for that purpose it may, by resolution, reduce or eliminate one or more appropriations.
4. 
Transfer of Appropriations. At any time during the fiscal year the Manager may transfer part or all of any unencumbered balance appropriated for programs within a department, office, agency or other organizational level; and Council may, at any time during the fiscal year, by resolution, transfer part or all of any unencumbered balance appropriated to a department, office, agency or other organizational level to another.
[Charter, 5/21/1974, § 911]
Every appropriation shall lapse at the end of the fiscal year to the extent that it has not been expended or encumbered and thereby shall be reflected in the cash balance estimated to be available at the commencement of the ensuing fiscal year.
[Charter, 5/21/1974, § 912]
Council shall provide for an independent annual audit of all Borough funds by a professional accountant or qualified outside auditor who has no personal interest, direct or indirect, in the fiscal affairs of the Borough government or any of its elected or appointed officials. Council may provide for more frequent audits, as well as special audits as it deems necessary. The auditor's report, together with the auditor's recommendations of the annual audit, and a complete financial statement of the fiscal affairs of the Borough, shall be presented to Council no later than the last day of the 4th month following the fiscal year being audited.
A summary of the financial statement and auditor's recommendations of the general audit shall be published in at least one newspaper of general circulation in the Borough following receipt of the auditor's report by Council.
[Charter, 5/21/1974, § 913]
Before entering upon the duties of their respective offices or positions, the Borough Manager as well as any other officer, agent or employee of the Borough as the Council may determine, shall execute and file with the Borough corporate surety bonds, conditioned for the honest and faithful performance of their respective duties, in such sums as shall be fixed by the Council. All such bonds and sureties thereon, before being accepted by the Borough, shall be approved by the Borough Solicitor. The agency placing such bonds shall be determined by the Council and the premium therefore shall be paid by the Borough. Such bonds may provide for one or more additional obliges 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.