(A) An annual budget shall be adopted by the City Council prior to the first day of the fiscal year. However, if for good and sufficient reasons the budget cannot be adopted by the first day of the fiscal year, the budget shall be adopted not later than 45 days subsequent to the beginning of the fiscal year. If the budget is not adopted prior to the beginning of the fiscal year, no expenditure may be made for any purpose except salaries until the budget has been finally adopted by the City Council.
(B) The budget as adopted shall be a balanced budget with anticipated revenues (including appropriated unencumbered surplus) equal to appropriated expenditures. All funds within the budget shall also be balanced.
(C) The budget, both in proposed and final draft, shall be made available for public inspection during regular office hours in the office of the City Clerk.
(D) The proposed budget shall be prepared by the Mayor and submitted to the City Council not less than 30 days prior to the beginning of the fiscal year.
(E) The City Council shall hold a budget hearing on the proposed budget prior to adoption. The Mayor shall give notices of the hearing, not less than seven days nor more than 30 days prior thereto, as to the time and place of the hearing, and shall cause to be published a summary of the proposed budget.
(F) The adoption of the budget shall be accomplished by the approval of a budget ordinance. This ordinance shall specify the anticipated revenues by appropriate categories, the appropriated expenditures for each department, and each non-departmental expense for each fund covered by the budget.
(G) Any increase or decrease in an appropriation to a departmental budget or to a non- departmental expense category, whether accomplished through a change in anticipated revenues or through a transfer of appropriations among departments and non-departmental expenses, shall require the approval of the City Council in the form of an amendment to the budget ordinance. The transfer of appropriations among the various accounts within a departmental budget or within a non-departmental expense category shall only require the approval of the Mayor, except any transfer of appropriations within a departmental budget so as to increase salary appropriations for the purpose of employing additional personnel shall require the approval of the City Council.
('83 Code, § 34.05) (Ord. O-7-82, passed 3-15-82)
Statutory reference:
Annual budgets, see KRS 91A.030
Annual budgets, see KRS 91A.030