(A) The purpose of this chapter is to adopt rules governing the City Council in its proceedings for administering those financial affairs of the city set forth in KRS 83A.130 (12), and to establish a standard procedure for the making and administration of budgets, to place responsibility for the tasks related to budget preparation and administration, the determination of the amount of taxes and other revenues in a manner that budgets may be balanced on the basis of actual cash receipts within the budget period, the establishment of appropriations, the payment of debt, and the control of other expenditures. Its provisions are intended to enable the City Council to make financial plans for both current and capital expenditures, to insure that executive staffs administer their respective functions in accordance with these plans, and to permit taxpayers and investors to form intelligent opinions based on sufficient information as to the financial policies and administration of the city.
(B) For the accomplishment of this purpose, the provisions of this chapter shall be broadly construed, and shall be in effect until repealed or amended. This chapter may be repealed or amended by a majority vote of the City Council in the same manner as required by KRS 83A.060 for the adoption of an ordinance except that in no case may a vote be taken on amendment or repeal of this chapter at the meeting at which it is first proposed.
(Ord. 1980-23, passed 12-16-80)