CAPITOL HEIGHTS                                    2123

35-0 BOND OF TOWN ADMINISTRATOR. THE TOWN
ADMINISTRATOR SHALL PROVIDE A BOND WITH SUCH
CORPORATE SURETY AND IN SUCH AMOUNT AS THE MAYOR AND
COUNCIL BY ORDINANCE MAY REQUIRE.

36-0 FISCAL YEAR. THE TOWN SHALL OPERATE ON AN ANNUAL
BUDGET. THE FISCAL YEAR OF THE TOWN SHALL BEGIN THE
FIRST DAY OF JULY AND SHALL END THE LAST DAY OF JUNE.
SUCH FISCAL YEAR SHALL CONSTITUTE THE TAX YEAR, THE
BUDGET YEAR AND THE ACCOUNTING YEAR.

37-0 BUDGET. THE TOWN ADMINISTRATOR, ON SUCH DATES AS
THE MAYOR AND COUNCIL, BY RESOLUTION SHALL DETERMINE,
BE AT LEAST THIRTY-TWO DAYS BEFORE THE BEGINNING OF ANY
FISCAL YEAR MAY BE REQUESTED TO SUBMIT A BUDGET TO THE
COUNCIL. THE BUDGET SHALL PROVIDE A COMPLETE FINANCIAL
PLAN FOR THE BUDGET YEAR AND SHALL CONTAIN ESTIMATES
OF ANTICIPATED REVENUES AND PROPOSED EXPENDITURES FOR
THE COMING YEAR. THE TOTAL OF THE ANTICIPATED SHALL
EQUAL OR EXCEED THE TOTAL OF THE PROPOSED EXPENDITURES.
THE BUDGET SHALL BE A PUBLIC RECORD IN THE OFFICE OF THE
TOWN ADMINISTRATOR, OPEN TO PUBLIC INSPECTION BY
ANYONE DURING NORMAL BUSINESS HOURS.

38-0 BUDGET ADOPTION. BEFORE ADOPTING THE BUDGET, THE
MAYOR AND COUNCIL SHALL HOLD A PUBLIC HEARING THEREON
AFTER TWO WEEKS NOTICE THEREOF IN SOME NEWSPAPER OR
NEWSPAPERS HAVING GENERAL CIRCULATION WITHIN THE
TOWN. THE MAYOR AND COUNCIL MAY INSERT NEW ITEMS OR
MAY INCREASE OR DECREASE THE ITEMS OF THE BUDGET. WHERE
THE MAYOR AND COUNCIL SHALL INCREASE THE TOTAL
PROPOSED EXPENDITURES IT SHALL ALSO INCREASE THE TOTAL
ANTICIPATED REVENUES IN AN AMOUNT AT LEAST EQUAL TO
SUCH TOTAL PROPOSED EXPENDITURES. THE BUDGET SHALL BE
PREPARED AND ADOPTED IN THE FORM OF A RESOLUTION. A
FAVORABLE VOTE OF AT LEAST A MAJORITY OF THE TOTAL
ELECTED MEMBERSHIP OF THE COUNCIL SHALL BE NECESSARY
FOR ADOPTION.

39-0 APPROPRIATIONS. NO PUBLIC MONEY SHALL BE EXPENDED
WITHOUT HAVING BEEN APPROPRIATED BY THE COUNCIL.

40-0 TRANSFER OF FUNDS. ANY TRANSFER OF FUNDS BETWEEN
MAJOR APPROPRIATIONS FOR DIFFERENT PURPOSES MUST BE
APPROVED BY THE MAYOR AND COUNCIL BEFORE BECOMING
EFFECTIVE.

41-0 OVER-EXPENDITURE FORBIDDEN. NO OFFICER OR EMPLOYEE
SHALL DURING ANY BUDGET YEAR EXPEND OR CONTRACT TO
EXPEND ANY MONEY OR INCUR ANY LIABILITY OR ENTER INTO
ANY CONTRACT WHICH BY ITS TERMS INVOLVES THE
EXPENDITURE OF MONEY FOR ANY PURPOSE, IN EXCESS OF THE
AMOUNTS APPROPRIATED FOR OR TRANSFERRED TO THAT
GENERAL CLASSIFICATION OF EXPENDITURE PURSUANT TO THIS
CHARTER. ANY CONTRACT, VERBAL OR WRITTEN, MADE IN
VIOLATION OF THIS CHARTER SHALL BE NULL AND VOID.
NOTHING IN THIS SECTION CONTAINED, HOWEVER, SHALL
PREVENT THE MAKING OF CONTRACTS OR THE SPENDING OF