The Mayor shall furnish to the Council an ordinance making appropriations for the expenditures of the Municipality during the current year. The Council shall adopt such ordinance in its original form or with such revisions as it may deem proper within ninety (90) days after the receipt of a Certificate of Estimated Income for the fiscal year from the County Auditor or the Budget Commission. The Council may amend or supplement said appropriation ordinance after its passage. Council may make one (1) or more preliminary appropriations for current expenses until the annual appropriation ordinance is in effect.
The Council may transfer any part of an unencumbered balance of an appropriation of any fund allowed by law to any purpose or object for which the appropriation for the current year has proven insufficient, except that no transfer shall be made of monies raised or appropriated for the payment of any bond or note of the Municipality unless all indebtedness, interest and other obligations which must lawfully be paid from such monies have been paid.
No money shall be drawn from the Treasury, nor shall an obligation for expenditure be incurred, except in accordance with appropriations made by Council. Claims shall be approved in writing by the head or acting head of the department for which the obligation was incurred. The Council may, by ordinance, provide for additional regulations or controls with respect to the payment of claims.
The Council shall, by ordinance, provide for the custody of all funds of the Municipality and for the deposit of funds in a bank or banks. All funds received on behalf of the Municipality by any officer, employee or agent thereof shall be promptly paid over to the Director of Finance, who shall cause them to be promptly placed in a depository bank, but the Council may authorize such sums, as it deems proper, to be in cash for the daily operation of any department or office. The Director of Finance, with the concurrence of the majority of the members of Council eligible to vote, shall invest monies of the Municipality in bonds or notes of this Municipality, or make any other investment permitted by law, in such manner as is now or hereafter authorized by the general law of the State of Ohio for such investment by municipalities.
(Amended 11-3-81; 11-7-95)
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