[Amended 7-12-2001 by Ord. No. 9-01; 7-8-2003 by Ord. No. 20-03]
At the first Village Board meeting in November
of each year, the Village Administrator, with the assistance of the
Village Clerk-Treasurer, shall prepare and submit to the Village Board
a proposed budget presenting a financial plan for conducting the affairs
of the Village for the ensuing year. Before preparing the proposed
budget, the Administrator shall consult with the heads of Village
departments, and with Village officials, and shall then determine
the total amount to be recommended in the budget for each Village
department or activity.
[Amended 7-12-2001 by Ord. No. 10-01; 7-8-2003 by Ord. No. 20-03]
The Village Administrator, with the assistance
of the Village Clerk-Treasurer, shall submit to the Village Board,
with the annual budget, a draft of an appropriation resolution providing
for the expenditures proposed for the ensuing fiscal year. Before
adoption of a final appropriation resolution, the Village Board shall
hold a public hearing on the budget and the proposed appropriation
resolution, as required by law.
[Amended 7-8-2003 by Ord. No. 20-03]
Upon written recommendation of the Village Administrator,
the Village Board may at any time by a two-thirds vote of the entire
membership transfer any portion of an unencumbered balance of an appropriation
to any other purpose or object. Notice of such transfer shall be given
by posting.
No money shall be drawn from the treasury of the Village nor shall any obligation for the expenditure of money be incurred except in pursuance of the annual appropriation resolution and changes therein authorized in accordance with §
15-4 of this article. 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, but appropriations may be made by the Village Board to be paid out of the income of the current year in furtherance of improvements or other objects 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 shall have been accomplished or abandoned.