(A) The Chief Administrative Officer shall prepare a budget, which shall present a complete financial plan for the ensuing year, utilizing those estimates received from the various agencies.
(B) The budget will be prepared in such a manner that shall assure that the total of estimated expenditures including an accrued deficit in any fund does not exceed the total of expected revenues including an unappropriated surplus.
(C) The budget shall consist of the following parts:
(1) Detailed estimates of all proposed expenditures for the ensuing fiscal year for each department and office of the village showing the expenditures for the corresponding items for the current and last preceding fiscal year;
(2) Statements of the bonded and other indebtedness of the village, showing the debt redemption and interest requirements, the debt authorized and unissued, and the condition of sinking funds, if any;
(3) An estimate of the amount of surplus expected in the current fiscal year; and
(4) An estimate of all anticipated revenues of the village which will be necessary to meet the proposed expenditures and commitments during the ensuing fiscal year. This should included:
(a) Sources other than taxes;
(b) Income from borrowing;
(c) Current and delinquent taxes; and
(d) Bond issues.
(D) Included in this estimate shall be:
(1) Corresponding figures for the current and preceding fiscal year;
(2) Such other supporting schedules as the Council may deem necessary; and
(3) An informative summary of projected revenues and expenditures of any special assessment funds, public improvement or building and site funds, intragovernmental service funds or enterprise funds, including the estimated total cost and proposed method of financing each capital construction project and the projected additional annual operating cost and the method of financing the operating costs of each capital construction project for three years beyond the fiscal year covered by the budget.
(Ord. 147, passed 5-19-2004)