The following standards shall apply to the form and detail in which the annual budget proposal of the city is to be prepared.
(A) Generally. The annual budget proposal shall detail the raising of revenue from all sources, including grants and transfers, and the spending of money for specified programs, functions, activities or objectives of the city, including all principal and interest due on debt, for the budget year. The total of anticipated revenues shall equal or exceed the total of proposed expenditures.
(B) Consistent with form of accounting system. The form of the annual budget proposal shall be consistent in form, to the extent practical, with the accounting system of the city.
(C) Contents. The annual budget proposed shall provide a complete program and financial plan for all funds for the budget year. It shall contain the following:
(1) A budget message, as specified in KRS 91A.030(7); and
(2) A budget summary, as specified in subsection (D) of this section, supported by:
(a) An estimate of fund balance carry-forward, as specified in subsection (E) of this section;
(b) An estimate of all anticipated revenues of the city compared to previous years, as specified in subsection (F) of this section;
(c) Proposed expenditures compared to previous years, as specified in subsection (G) of this section; and
(d) An estimate of anticipated transfers, as specified in subsection (H) of this section.
(D) Budget summary. At the head of the annual budget proposal, there shall appear a summary of the budget, which need not be itemized further than by principal sources of anticipated revenue, and proposed expenditures by program, function, activity or objectives of the city, in a manner as to present a simple and clear summary of the detailed estimates of the budget components.
(E) Fund balance carry-forward. Each fund balance carry-forward available for appropriation shall be limited to the amount by which assets are estimated to exceed liabilities at the beginning of the budget year.
(F) Anticipated revenues; comparison with other years. In parallel columns, opposite the several items of anticipated revenues, there shall be placed:
(1) The amount of each item actually received during the next preceding fiscal year;
(2) The total of the amount of each item actually received to the time of preparation of the annual budget proposal, plus anticipated receipts for the remainder of the current fiscal year estimated as accurately as possible; and
(3) The amount of each item anticipated to be received during the budget year, estimated as accurately as possible.
(G) Proposed expenditures; comparison with other years. In parallel columns, opposite the several items of proposed expenditures, there shall be placed:
(1) The amount of each item actually expended during the next preceding fiscal year;
(2) The total of the amount actually expended to the time of preparation of the annual budget proposal, plus the expenditures for the remainder of the current fiscal year estimated as accurately as possible; and
(3) The amount of each item to be appropriated for the budget year.
(H) Anticipated transfer from other funds. Any anticipated excess revenues, if legally available for general purposes and to the extent the excess is to be used to support other funds, shall be stated as a transfer item in the annual budget proposal.
(1977 Code, § 2-2) (Ord. 81-22, passed 4-27-1981)
Statutory reference:
Budget proposal to be prescribed by ordinance, see KRS 91A.030(6)