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(A) The proposed and adopted budgets shall provide financial data on revenues, other resources and expenditures for at least a three-year period, including prior year actual, current year budget and/or estimated current year actual and proposed budget.
(B) The proposed and adopted budgets shall also include a narrative that:
(1) Summarizes the major changes in priorities or service levels from the current year and the factors leading to those changes;
(2) Identifies the priorities and key issues for the new budget period; and
(3) Identifies and summarizes major financial factors and trends affecting the budget, such as: economic factors; long-range outlook; significant changes in revenue collections, tax rates or other changes; current and future debt obligations; and significant use of or increase in fund balance or retained earnings.
(Board and Administrative Policies Manual, § 4.5)
BUDGET ADOPTION
(A) Prior to the beginning of each fiscal year, the Township Board shall annually adopt a budget using an activity method of adoption unless otherwise directed in the General Appropriations Act, being M.C.L.A. §§ 141.436 et seq.
(B) The Board shall monitor and amend the budget as needed to approve and control all expenditures.
(Board and Administrative Policies Manual, § 4.6)
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