An annual appropriations ordinance shall be prepared by the Manager and the Finance Director of the Village, in the form prescribed by the general law, based upon the revised budget as approved by the Mercer County Budget Commission and the official certificate of estimated resources or amendments thereof as issued by the County Auditor. The proposed appropriations ordinance shall be submitted to the Council as soon as practicable after the issuance of such certification of estimated resources. On or about the first day of each year, the Council shall pass an appropriations ordinance based upon such proposed appropriations ordinance submitted by the Manager and the Finance Director, amended or revised as it sees fit. If it desires to postpone the passage of the annual appropriations ordinance until an amended certificate is received from the County Auditor, based on the actual balances, Council may pass a temporary appropriations ordinance for meeting the ordinary expenses of the Village until not later than the first day of April of the current year, and the appropriations made therein shall be chargeable to appropriations in the annual appropriations ordinance for that fiscal year when passed. For the purpose of meeting the actual requirements of the Village as they appear as the fiscal year progresses, Council may pass such supplemental appropriations ordinances as it deems necessary, adjusting the appropriations between the various appropriation funds. The total amount appropriated for any fiscal year shall not exceed the total balances carried over from the previous fiscal year plus the estimated revenue for the current fiscal year, as both of such sums appear on the latest issued certificate of resources. No amending or supplemental appropriations ordinance shall be required to be published. Such ordinances shall be effective immediately.