(a) Beginning on or about December 1 of each year, the Director of Finance shall determine the gross revenue which has actually been collected during the previous 12 months in each of the 5 Funds described in Section 931.01, shall calculate the GSGF, using the Base Standard Rate multiplied by the revenues in each individual fund from the prior twelve months, shall divide each of those charges by 4, and shall report to Council the Anticipated Quarterly GSGF charge for each Fund. The Council will, thereafter, retain the option to, by Motion, waive or reduce any or all of those charges against any one or more of the Village's departments as Council determines appropriate. Thereafter, in the subsequent January, the Director of Finance shall make the GSGF charge, based on either the Base Standard Rate, or the modifications thereof as directed by the Council.
(b) The Director of Finance shall proceed in the same fashion in each March, June, and September thereafter; the Council shall retain the same option to modify the anticipated GSGF charge for each successive quarter, and the Director of Finance shall then, in each subsequent quarter, make GSGF charges in subsequent quarters, based on either the Base Standard Rate, or the modifications thereof as directed by the Council.
(c) Regardless of the foregoing process, the Director of Finance shall report to Council at any time it appears that proceeding with implementation of the GSGF charge will jeopardize the fiscal integrity of, or be contrary to prudent financial planning, with respect to any one or more of the affected Funds; and the Council retains the authority to, by Motion, waive or reduce any or all of those charges against any one or more of the Village's departments as Council determines appropriate. (Ord. 2016-54. Passed 1-3-17.)