The fiscal year of the township shall be the
calendar year. However, after 1976, if not prohibited by law, the
Board may by ordinance adopt a different fiscal year, specifying an
orderly procedure for financial and budgetary controls in making such
transition.
The Board shall adopt in the Administrative
Code a uniform classification of accounts and codes to be used and followed in all financial plans, budgets and financial reports as set forth in this Article
VIII.
The Manager, with the assistance of the Finance
Director, shall, at the time of presenting the annual budgets of the
township for the consideration of the Board, submit as an annex to
the budgets the tentative financial projections for a period of three
or more years, said projections to be revised annually. The projections
shall deal with operations, capital programs and a schedule for the
amortization of debt. The Administrative Code shall provide for the implementation of this section.
On or before the adoption of the operating budget, the Board shall adopt a capital program and a capital budget. The capital program shall set forth all capital expenditures amounting to $10,000 or more (except for maintenance of existing facilities, which shall be included in the operating budget), identified by project, the year in which acquisition or construction is to be scheduled, the means by which the capital program is to be financed, the effect of any proposed capital expenditures on future operating expenses and the effect of any proposed new indebtedness on the amortization schedule of existing debt and debt limits. The capital program shall incorporate all anticipated capital projects to be initiated with a period of three or more years. Following approval by the Board of the capital program, the Board shall adopt a capital budget providing appropriations for the next fiscal year, which shall be the first year of the capital program. The capital budget may be financed from unused appropriations of current revenues or moneys borrowed as authorized by this Charter or general law. All unused appropriations for the capital budget shall lapse at the end of the fiscal year. The Finance Director shall control expenditures in relation to appropriations in the capital budget in the same manner as required for the operating budget in §
C-53D. The Board may amend the capital budget at any time during the fiscal year, but before doing so must amend the capital program. The capital program and the capital budget shall be adopted only after advertisement and public hearing in the same manner as provided for the adoption of the operating budget in §
C-53B.
The Board shall provide in the Administrative
Code for procedures for the receipt, deposit and accounting
for all moneys due and received by the township.
The Finance Director shall authorize disbursement
of township moneys only after determining that all goods and services
have actually been received or performed. The Board shall provide
in the Administrative Code for procedures for the signing and countersigning of all
checks, drafts and other orders of payment by two persons, one of
whom shall be the Finance Director or other employee under his direction
as shall be specified in the Administrative Code.
The Board shall provide for an annual independent
certified standard municipal audit of township receipts, expenditures,
accounts and reports by a Pennsylvania certified public accountant
or accountant firm having no interest, direct or indirect, in the
fiscal affairs of the township government or any of its elected or
appointed personnel. The Board 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
township shall be submitted to the Manager and to the Board and shall
be included in the annual report of the township. A summary of the
annual audit report of the independent auditor shall be published
at least once in two or more newspapers of general circulation in
the township within 60 days after the close of the fiscal year.
The Board shall provide in the Administrative
Code for the bonding of all officers and employees who are
responsible for the handling and/or authorization of receipts, disbursements,
goods and supplies. All such bonds shall be approved by the Township
Solicitor as to form and sufficiency. The premiums for such bonds
shall be paid by the township.