A.   The board shall prepare and adopt an annual budget, stating anticipated revenues and expenditures and indicating what support and maintenance of the library will be required for the upcoming fiscal year. The board shall submit a proposed annual library budget for review and final approval, including amendments, by the Council for the ensuing year. The board shall submit its proposed library budget to the Council by July 15 of each year in order for the Council to consider it as part of the City budgeting process, and if the board fails to do so, the Council may adopt such library budget as it deems advisable.
   B.   All funds for the library shall be in the custody of the City Treasurer and shall be used only for library purposes. The board shall have control of library expenditures. Money shall be paid for library purposes only upon properly authenticated vouchers of the board. The board shall not make expenditures or incur indebtedness in any year in excess of the amount of money appropriated for library purposes by the Council. The board may hold a separate checking account, not to exceed five hundred dollars ($500.00), to be used to pay "petty expenses" (defined as expenses not to exceed $50.00) of the library, and this amount shall be audited annually along with all other library funds. Checks drawn on this account shall be signed by two (2) board members.
   C.   All property, real and personal, acquired by the board shall be held in the name of Bellevue. All donations or gifts for the benefit of the library shall be budgeted along with other library accounts, and such donations and gifts to the library shall be used only for library purposes. Money or other funds which are donated or given to the library may be expended by the board only in accordance with the City budget process. (Ord. 2002-01, 1-10-2002)