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4555
DEER PARK
45. Same — Bond.
The clerk—treasurer shall provide a bond with such
corporate surety and in such amount as the council by
ordinance may require.
46. Fiscal year.
The town shall operate on an annual budget. The
fiscal year of the town shall begin on the first day of
July in any year and shall end on the last day of June in
the following year. The fiscal year constitutes the tax
year, budget year, and the accounting year.
47. Budget.
The mayor, on such date as the council by ordinance
determines, but at least thirty—one days before the
beginning of any fiscal year, shall 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 revenues shall equal or exceed the total of
the proposed expenditures. The budget shall be a public
record in the office of the clerk—treasurer, open to
inspection by anyone during normal business hours.
48. Same — adoption.
Before adopting the budget the council shall hold a
public hearing thereon after two weeks' notice thereof in
some newspaper or newspapers having general circulation
within the municipality. The council may insert new
items or may increase or decrease the items of the
budget. If the council increases the total proposed
expenditures it shall also increase the total anticipated
revenues in an amount at least equal to the total
proposed expenditures. The budget shall be prepared and
adopted in the form of an ordinance. A favorable vote of
at least a majority of the total elected membership of
the council is necessary for adoption.
49. Appropriations.
No public money may be expended without having been
appropriated by the council. From the effective date of
the budget, the several amounts stated therein as
proposed expenditures shall be and become appropriated to
the several objects and purposes named therein.
50. Transfer of funds.
Any transfer of funds between major appropriations
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