Chapter 4.02
BUDGET

Sections:

4.02.010    Fiscal year.

4.02.020    Budget preparation and submission.

4.02.030    Public hearing.

4.02.040    Amendment--Adoption--Appropriations.

4.02.050    Funds other than general fund.

4.02.060    Transfers.

4.02.010 Fiscal year.

The fiscal year of the municipal government shall begin on the first day of July and end on the last day of June.

(Ord. 11-12, Amended, 07/07/2011; Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)

4.02.020 Budget preparation and submission.

The borough manager shall prepare and submit to the assembly, no later than the second assembly meeting in April, a proposed budget for the next fiscal year, which shall contain detailed estimates of anticipated revenues (including contributions from reserves) and proposed expenditures. Proposed expenditures shall not exceed the total of the anticipated revenues. The budget shall be in such form and have such contents as the assembly may require. The budget, and any budget message accompanying it, shall be a public record in the office of the borough clerk, and shall be open to public inspection. Sufficient copies of the budget and any budget message shall be made for distribution to persons on request. At the assembly meeting when the proposed budget is submitted, the assembly shall order a public hearing held on the proposed budget, said public hearing to be not less than one (1) week following the proposed budget submission.

(Ord. 11-12, Amended, 07/07/2011; Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)

4.02.030 Public hearing.

The assembly shall hold a public hearing on the proposed budget at least one (1) week after a notice of the time of the hearing has been published or posted, and at the hearing any interested person shall have the opportunity to be heard. The assembly may continue the hearing at later meetings.

(Ord. 11-12, Amended, 07/07/2011; Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)

4.02.040 Amendment--Adoption--Appropriations.

The assembly may insert, strike out, increase or decrease items in the proposed budget, and may otherwise amend it. The assembly, at the first regular or special meeting following the public hearing on the budget, shall adopt the budget and make the appropriations for the next fiscal year. If the assembly fails to adopt the budget and make the appropriations on or before that time, the budget, as submitted or as amended, as the case may be, shall go into effect and be deemed to have been finally adopted by the assembly; and the proposed expenditures therein shall become the appropriations for the next fiscal year. The appropriations, from the budget document, need not be in as great detail as the proposed expenditures in the budget; but appropriations shall never exceed the anticipated revenues in the budget.

(Ord. 11-12, Amended, 07/07/2011; Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)

4.02.050 Funds other than general fund.

The budget shall include the general fund, and shall also include other funds, but in separate estimates. Budgets for other funds which are deemed to require formal budgeting may also be prepared, considered, and adopted separately from the budget of the general fund.

(Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)

4.02.060 Transfers.

The borough manager, or the assembly by resolution, may transfer unencumbered balances from one (1) line item to another within an appropriation. In accordance with AS 29.25.010(a)(4), action by the assembly by ordinance amending the budget is required in order to transfer appropriations, as well as to make supplemental or emergency appropriations.

(Ord. 11/12, Amended, 07/07/2011; Ord. 86-2, Amended, 01/15/1986; Ord. 84-25 § 5 (part), Repealed & Replaced, 11/08/1984)