A. Annual Appropriation Ordinance: The village board shall, within the first quarter of the fiscal year, adopt an appropriation ordinance in which they shall appropriate such sums of money as may be deemed necessary to defray all necessary expenses and liabilities, and such ordinance shall satisfy the objects and purposes for which such appropriations are made and the amount appropriated to each item. Said appropriation ordinance shall be published in a newspaper published in the village, or if none is published therein, then in a newspaper of general circulation in the village, or it may be published in pamphlet form. Said publication shall be before the end of the third Monday of the fiscal period. (1985 Code § 1-9-1)
B. Transfer Of Appropriations 1 : After six (6) months of the fiscal year have elapsed, the board may, without limitation as to the amount and by two-thirds (2/3) vote by resolution or ordinance, transfer from any appropriated item its anticipated unexpended funds to any other item of appropriation theretofore made, and the item to which said transfer is made may be increased to the extent of the amount so transferred. No transfers shall be permitted between funds required by law to be kept separate, and all special appropriations shall only be made as provided by law. (1985 Code § 1-9-3)
Notes
| 1 | 1. See also subsection 1-8C-3F of this code. |