(a) Appropriations Ordinances shall be introduced in such timely fashion as to provide for three (3) readings of Council.
(1) A copy of each department, board, or commission's request for proposed appropriations for budget year.
(2) A brief description with justification/explanation of each category specific to each department, board, or commission.
(3) A report which reflects:
A. Prior year actual expenditures [minus encumbrances for previous year(s)].
B. Previous year(s) encumbrances.
C. Prior year appropriated amount [minus encumbrances for previous year(s)].
D. Variance between appropriated amount and actual amount with detailed explanation.
E. Encumbered amount to be paid in present year.
F. Proposed amount for Appropriations Ordinance with detailed explanation for any increase over prior year actual amount.
(c) The Finance Director shall provide to Council Finance Committee monthly prior to the second Finance Committee meeting of each month, a true and accurate copy of the following:
(1) Signed copy of completed bank reconciliations for the prior month;
(2) Report on prior months expenditures comparing budget amount, year-to-date expenditures, encumbrances, unencumbered balances, and prior year data for each department and account of the Village.
(d) The Mayor's Office shall provide a list of all contracts entered into by the Village, signed by the Mayor and approved by the Law Director during the prior month. Said report shall be provided to the Finance Committee monthly prior to the second Finance Committee meeting of each month. (Ord. 2010-10. Passed 3-10-10.)