(A) If the actual expenditures for a proprietary function exceed the estimated expenditures in the proprietary budget statement during its fiscal year, the Council shall adopt a proprietary function reconciliation statement within 90 days after the end of such fiscal year which reflects any difference between the adopted proprietary budget statement for the previous fiscal year and the actual expenditures and revenue for such fiscal year. After adoption of a proprietary function reconciliation statement, it shall be filed with the City Clerk and published in a newspaper of general circulation within the Council's jurisdiction or by mailing to each resident within the Council's jurisdiction. If the difference between the adopted proprietary budget for the previous fiscal year and the actual expenditures and revenue for such fiscal year is greater than 10%, the proprietary function reconciliation statement shall only be adopted following a public hearing.
(B) If the budget of a proprietary function is included in the city budget statement created pursuant to the Nebraska Budget Act, the Municipal Proprietary Function Act need not be followed for that proprietary function. Any income from a proprietary function which is transferred to the general fund of the city shall be shown as a source of revenue in the city budget statement created pursuant to the Nebraska Budget Act.
('72 Code, § 1-824) (Ord. 1434, passed 8-26-93)