(A) No expenditure in any fund shall be legal or proper unless appropriations adequate to meet that expenditure have been made in the budget. Except where a statute specifically fixes a larger sum as the minimum for a requirement of advertisement for bids, the city shall not make a contract, lease, or other agreement for materials, supplies (except perishable meat, fish and vegetables), equipment, or for contractual services other than professional, involving an expenditure of more than $7,500 without first making a newspaper advertisement for bids. However, this requirement shall not apply in an emergency if the Mayor has duly certified that an emergency exists, and has filed a copy of such certificate with the City Treasurer/Director of Finance.
(B) All appropriations which are not obligated, encumbered, or expended at the end of the fiscal year shall lapse and shall become a part of the unencumbered fund balance which may be appropriated for the next fiscal year.
('83 Code, § 34.06) (Ord. O-7-82, passed 3-15-82)