Skip to code content (skip section selection)
A budget balancing policy shall be established as follows:
A. Appropriation Limitation: It is the city's policy to appropriate no more than the current year estimated revenues, including interfund transfers, for each fund, in the original budget for a given fiscal year. Compliance or departure from this policy shall be duly noted in the budget message submitted by the city manager for the following fiscal year, including an explanation as to the basis for any departure, making reference to the applicable criteria outlined in section 3-2-8 of this chapter.
B. Supplemental Appropriations: During the fiscal year, after adoption of the original approved budget, any supplemental appropriations of available fund balance must be approved by the city commission who shall consider the basis for the proposed use of reserves as well as the adequacy of the remaining unappropriated fund balance. Actual approval of any supplemental appropriations of available fund balance shall be duly noted in the minutes, including a reference to the basis or justification for same, as outlined in section 3-2-8 of this chapter.
C. Interfund Transfers: In the process of balancing the budget, interfund transfers from the KPWA to the general fund will be limited to no more than twenty five percent (25%) of the annual estimated gross revenue for the KPWA for the budget year. (Ord. 896, 11-8-2004)