A. Preparation: In accordance with the Illinois Compiled Statutes, the budget officer shall compile a budget, such budget to contain estimates of revenues available to the village for the fiscal year for which the budget is drafted, together with recommended expenditures for all of the village departments, committees, commissions, and boards. The budget shall contain actual or estimated revenues and expenditures for the two (2) years immediately preceding the fiscal year for which the budget is prepared. The budget shall be presented to the finance committee for their opportunity to make a recommendation to the budget officer and village board.
B. Finance Committee Recommendation: The finance committee shall: 1) advise and provide input to the budget officer in the preparation of the annual budget; and 2) review the proposed annual budget and make a recommendation to the budget officer and the village board.
C. Approval: The final budget shall be adopted by the village board before April 30 of each year.
D. Village Financial Plan: The budget approved by the village board shall be the financial plan for conducting affairs of the village for the following fiscal year.
E. Budget Amendments: Pursuant to the Illinois municipal code, as amended from time to time, heads of village departments may delete, add to, change or create subclasses within object classes budgeted previously to the department, upon approval of the budget officer or village president. By a vote of two- thirds (2/3) of the members of the corporate authorities then holding office, the budget may be revised by deleting, adding to, changing or creating subclasses within object classes and object classes themselves. No revision of the budget shall be made increasing the budget in the event funds are not available to effectuate the purpose of the revision. (Ord. O-15-18, 10-6-2015)