(A) The Commission shall, each year prior to June 1, prepare a budget for airport finances for the ensuing calendar year. The budget shall show the following:
(1) Estimated revenues, divided as follows:
(a) Federal and state grants;
(b) Contribution from city; and
(c) Miscellaneous revenues.
(2) Estimated expenditures, divided as follows:
(a) Personal services;
(b) Services other than personal;
(c) Supplies and materials;
(d) Equipment;
(e) Real estate and improvement; and
(f) Miscellaneous expenditures.
(B) Such budget shall be submitted not later than June 1 to the City Council for approval or disapproval. The Commission shall not approve any claims or incur any obligations for expenditure unless there is unencumbered cash in the Airport Fund to the credit of the Commission with which to pay the same.
(Prior Code, § 8-21) (Ord. 794, passed 5-21-1990)