The Director of Finance of the Municipality shall furnish to Council not later than the second regular meeting of the month of January of each calendar year an ordinance making appropriations for the expenditures of the Municipality during the year. The Council shall adopt such ordinance in its original form or with such revision as it may find proper. Such appropriation ordinance shall be in such form and detail as may be required by the general laws of the State of Ohio, and may be amended or supplemented by Council after its passage, but appropriations shall not be made in excess of the estimated revenues of the Municipality. The Council may make preliminary appropriations for current expenses sufficient in amount to meet the current needs until the annual appropriation ordinance has been enacted and is in effect.
The passage of an ordinance authorizing the issue or sale of bonds or notes of the Municipality shall constitute an appropriation of the proceeds thereof to the purpose for which said bonds or notes are issued.
(Amended 11-7-1978)
The Council may transfer any part of an unincumbered balance of an appropriation of any fund to any purpose or object for which the appropriation for the current year has proven insufficient, or may authorize a transfer of money to be made between items appropriated to the same office or department, except as follows:
No transfer shall be made from any bond or note fund, except that the unexpended balance of such fund no longer needed for the purpose for which such fund was created shall be transferred to the fund from which said bonds or notes are to be paid.
No transfer shall be made of money raised or appropriated for the payment of any bond or note of the Municipality unless all indebtedness, interest and obligations which can lawfully be paid from such money have been paid.
At the close of each fiscal year, the unincumbered balance of each appropriation, other than appropriations of bond and note funds, shall revert to the fund from which it was appropriated and shall be subject to future appropriation, except as otherwise provided in the next following paragraph of this section.
A fund to be known as the Improvement Fund may be maintained in the treasury into which municipal moneys may be appropriated or allocated from time to time by action of Council and which shall then become and remain separate and distinct from general funds. Improvement Fund moneys may be advanced or expended from time to time by action of Council for public improvements or requirements not otherwise provided for.
No money shall be drawn from the treasury nor shall any obligation for the expenditure of money be incurred, except pursuant to appropriation made by Council.
The Director of Finance shall have power to require evidence that the amount of each claim is justly due and is in conformity to law and municipal legislation relating thereto. For that purpose he may summon before him any officer, agent or employee of any department of the Municipality, and examine him under oath or affirmation relative thereto.
(Amended 11-7-1978)
The Council shall by ordinance provide for the custody of all funds of the Municipality and for the deposit of funds as provided by the Uniform Depository Act of the State of Ohio. All funds received on behalf of the Municipality by any officer, employee or agent thereof, shall be promptly placed in the depository bank by the Director of Finance. Council, however, may authorize such sums as it deems proper to be kept in cash for the daily operations of any department or office.
Inactive funds in the treasury of the municipal depository may be invested from time to time in such manner as is now or hereafter may be authorized by the general laws of the State for the investment of inactive funds of municipalities.
(Amended 11-6-1973)
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