[Added at time of adoption of Code (see Ch. 1-2, Adoption
of Code)]
The amount of taxes 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 of the minutes of the meeting or such other publication
as the Board may direct.
No money shall be drawn from the treasury of the Village, nor shall any obligation for the expenditures of money be incurred, except in pursuance of the annual appropriation in the adopted budget, or when changed in accordance with §
2-5-4 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 reappropriation. Appropriations may be made by the Board to be paid out of the income of the current year, in furtherance of improvements, and/or other projects 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 has been accomplished or abandoned.
The calendar year shall be the fiscal year.
The Village Board shall designate the public depository or depositories
within this state in which to deposit Village funds, and when the
money is deposited in such depository (depositories) in the name of
the Village, the Clerk-Treasurer and bondsman shall not be liable
for such losses as are defined by state law. The interest earned by
funds placed in said depositories shall be paid into the Village treasury.