(A) Statements of condition and needs; appropriations.
(1) Except where the town’s Board of Trustees opts to prepare a budget pursuant to the Municipal Budget Act, the town’s Board of Trustees shall meet on the second Monday in July every year at 6:30 p.m., unless the Board sets another hour of that day for the meeting; and shall make, in writing, a financial statement showing the true fiscal condition of the town as of the close of the fiscal year on June 30 and an itemized statement of estimated needs and probable income from sources other than ad valorem tax for the current fiscal year. Said statements shall be made as provided by 68 O.S. §§ 3001 et seq., and any other applicable provisions of law which shall be filed with the county’s Excise Board on or before August 22. Said statements shall be published as required by law.
(2) The county’s Excise Board will then make appropriations for the town as provided by law.
(3) Supplemental appropriations may be made as provided by 68 O.S. § 3021 and any other applicable provisions of law.
(B) Transfer of appropriations balances.
(1) Unencumbered appropriation balances of items of less immediately urgent need, or any part thereof, may be transferred to other items of appropriation to meet more immediately urgent needs, by the town’s Board of Trustees, upon written request from the department head needing the additional or supplemental appropriation.
(2) The town’s Clerk-Treasurer shall notify in writing the clerk for the county’s Excise Board of the changes and shall also notify the head of each department affected by the action, and they shall adjust their accounts accordingly.
(3) The actions and consent of the respective department heads or officers provided in this division (B) may be by persons designated by the Board of Trustees as provided by 62 O.S. §§ 461 through 463.
(Prior Code, § 2-1-1)
Statutory reference:
Municipal Budget Act, see 11 O.S. §§ 17-201 et seq.
Related provisions, see 62 O.S. §§ 461 and 463