[HISTORY: Adopted by the Town Council of the Town of Rocky Hill as indicated in article histories. Amendments noted where applicable.]
Preparation of annual budget — See Charter, Art. VIII.
[Adopted 2-6-2006 by Ord. No. 228-06]
Upon the effective date of this article, the Town Manager is authorized to utilize in the preparation of the Town's proposed annual budget in accordance with § C8-2 of the Town Charter any or all of the undesignated fund balance from the preceding fiscal year that exceeds 6% of general fund expenditures.
Moneys in the undesignated fund balance from the preceding fiscal year that exceed 6% of general fund expenditures shall be applied to the capital improvement budget as determined by the Town Council through the budget review process and approved by the Town Council. The undesignated fund balance of the general fund for this purpose shall be the undesignated fund balance as determined by the Town's Auditor for the prior fiscal year ending June 30.