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Transfers of any unencumbered balance, or any portion, in any appropriation account to any other appropriation account may not be made without amendment of the budget resolution as provided in this chapter, except that transfers within a fund and department may be made by the Chief Administrative Officer within limits set by the budget resolution.
(Ord. 147, passed 5-19-2004)
(A) The Village Council may make supplemental appropriations by amending the original budget resolution as provided in this chapter, provided that revenues in excess of those anticipated in the original resolution become available due to:
(1) An unobligated surplus from prior years becoming available; and/or
(2) Current fiscal year revenue exceeding original estimates in amounts great enough to finance the increased appropriations.
(B) The Village Council may make a supplemental appropriation by increasing the dollar amount of an appropriation item in the original budget resolution or by adding additional items. At the same time, the estimated amount from the source of revenue to which the increase in revenue may be attributed shall be increased or a new source and amount added in a sum sufficient to equal the supplemented expenditure amount. In no case may such appropriations cause total estimated expenditures, including an accrued deficit, to exceed total estimated revenues, including an unappropriated surplus.
(Ord. 147, passed 5-19-2004)
(A) Whenever it appears to the Chief Administrative Officer or the Village Council that actual and probable revenues in any fund will be less than the estimated revenues upon which appropriations from such fund were based, the Chief Administrative Officer shall present to the Village Council recommendations, which, if adopted, will prevent expenditures from exceeding available revenues for the current fiscal year. Such recommendations shall include proposals for reducing appropriations, increasing revenues or both.
(B) Within 20 days of receiving this information the Village Council shall amend the budget resolution by reducing appropriations or approving such measures as are necessary to provide revenues sufficient to equal appropriations, or both. The amendment shall recognize the requirements of state law. If the Village Council does not make effective such measures within this time, the Chief Administrative Officer shall, within the next five days and as a temporary measure until the Council takes action to amend the budget resolution, make adjustments in appropriations in order to equalize appropriations and estimated revenues and report such action to the Village Council.
(Ord. 147, passed 5-19-2004)