600 LAWS OF MARYLAND [CH. 236

nues shall be set aside as a reserve fund to meet extraordinary
or unanticipated expenditures as the Council may direct; (2)
detailed estimates of anticipated revenues based on a recom-
mended tax rate, and other income; (3) a statement of delin-
quent taxes, if any, for the current and preceding fiscal years,
indicating the percentages collectible; and (4) a statement of
the bonded and other indebtedness of the City, showing the
debt redemption and interest requirements, the debt authorized
and unissued, the condition of the sinking funds, if any, and
the borrowing capacity of the City.

3. (The Preparation and Adoption of the Budget. ) The
heads of the departments and agencies of the City government
shall at such time as may be fixed by the City Manager trans-
mit estimates of their budgetary requirements to the head of
the Finance Department, who shall, under the direction of the
City Manager, prepare a budget in the form required by the
preceding paragraph. The City Manager shall transmit the
budget to the Council at least 45 days before the beginning of
the fiscal year. The Council shall hold at least one public hear-
ing on the budget not less than one week before its adoption, of
which hearing public notice shall have been given at least two
weeks in advance. The Council may revise, alter, increase, or
decrease any item in the budget, provided that when it shall
increase the total proposed expenditures it shall also provide
for increasing the total income of the City so as to at least
equal the aggregate proposed expenditures, including the 10%
reserve. When the Council shall make such changes, it shall
issue a statement explaining its action. At least ten days be-
fore the beginning of the fiscal year, the Council shall adopt
the budget and enact the appropriation ordinance and the
ordinance prescribing the tax rate.

4. (Money to be drawn from Treasury in Accordance with
Appropriation. ) No money shall be drawn from, the treasury of
the City, nor shall any obligation for the expenditure of
money be incurred, except in pursuance of the annual ap-
propriation ordinance or any revision thereof. At the close of
each fiscal year any unobligated balance of an appropriation
shall revert to the fund from which appropriated, but shall be
subject to reappropriation; except that appropriations may be
made by the Council, to be paid out of the income of the cur-
rent year, in furtherance of improvements or other works or ob-
jects which will not be completed within such year, and any
such appropriation shall continue in force until the purpose for
which it was made shall have been accomplished or abandoned.

5. (Work Program and Allotments. ) Immediately before
the beginning of the fiscal year, the head of each department or