City of Schenectady, NY
Schenectady County
By using eCode360 you agree to be legally bound by the Terms of Use. If you do not agree to the Terms of Use, please do not use eCode360.
Table of Contents
Table of Contents
[HISTORY: Adopted by the Council of the City of Schenectady 12-3-1984 as part of Ord. No. 84-102; amended in its entirety 1-2-1985 by Ord. No. 85-01. Subsequent amendments noted where applicable.]
On or before the 10th day of September, the head of each agency shall submit a detailed estimate of all pending capital projects and those capital projects which, in the opinion of the agency head, should be undertaken during the next fiscal year.
On or before the first day of October, the Mayor shall submit to the City Council for its adoption a proposed capital project budget. The proposed capital project budget shall be arranged in such manner as to clearly set forth:
A brief description of each proposed capital project;
The estimated total cost of each proposed capital project;
The source of funding for each proposed capital project; and
An analysis of the City's capital bonding capability and current capital indebtedness.
The proposed capital budget shall be adopted on or before November 1 if its adoption requires an appropriation in the operating budget for the ending fiscal year; otherwise, the City Council shall adopt a capital budget on or before December 31. Prior to the final adoption of the capital budget, the City Council shall hold a public hearing at which the public may be heard. No City Council approval or public hearing shall be required for amendments to the capital budget, subsequent to its adoption, when such amendments are less than 10% of a capital project's cost. Only capital projects specifically contained in the adopted capital budget shall be eligible for funding from the capital budget.