Compass Bank is hereby designated as the official depository of the town.
(Ordinance adopting 2006 Code; 2006 Code, art. 1.400)
The policy of the town council concerning budget expenditures shall be as follows:
(1)
The town council shall approve a budget on an annual basis which provides for the payments of municipal debts and expenses with such particularity as the town council shall determine including the creation of special funds and provisions for the acquisition and financing of property and improvements in the town.
(2)
Before any budgeted line item shall be reduced, increased or reallocated, the change must be approved by unanimous consent of the finance committee.
(3)
Any expenditure of budgetary items which will increase the final total of the department fund and/or bottom line of the budget, or any use of reserve or other off-budget funds, must first be approved by a majority of the town council.
(4)
Any changes that are made as a result of approval by the finance committee shall be reported to the town council at its next regularly scheduled meeting.
(1992 Code, art. 1.600; 2006 Code, art. 1.600)