Chapter 3.15
PUBLIC FINANCE – BUDGET

Sections:

3.15.010    Public record.

3.15.020    Fiscal year.

3.15.030    Budget and capital program.

3.15.040    Public hearing.

3.15.050    Adoption – Vote required – Veto.

3.15.060    Date of final adoption – Failure to adopt.

3.15.070    Effective date – Certification.

3.15.090    Date appropriations shall lapse.

3.15.100    Disposition of lapsed funds.

3.15.010 Public record.

The budget and the budget message and supporting schedules shall be a public record in the office of the clerk, open to public inspection by anyone. [Ord. 71-5-O, 1971; prior code Ch. 7 subch. 1 §1. Formerly §3.08.010].

3.15.020 Fiscal year.

The fiscal year of the borough shall begin on July 1st and end on June 30th. [Ord. 71-5-O, 1971; prior code Ch. 7 subch. 2 §2. Formerly §3.08.020].

3.15.030 Budget and capital program.

A. On or before the thirtieth of April of each year, the manager shall submit the budget and capital program to the assembly. The budget and budget message shall contain the proposed appropriation and tax levy ordinance.

B. The school district shall submit to the manager the proposed budget and local support requirements for the school by the thirtieth of April so the major funding can be incorporated into the borough budget and budget message. [Ord. 98-27 §2, 1998; Ord. 98-03 §2, 1998; Ord. 84-61-O §10, 1984; Ord. 81-60-O, 1981; Ord. 71-5-O, 1971; prior code Ch. 7 subch. 2 §3. Formerly §3.08.030].

3.15.040 Public hearing.

At a time and place as advertised, the assembly shall hold a public hearing of the budget as submitted. After the public hearing, the assembly may adopt, with or without amendments, the annual budget as proposed by the manager. [Ord. 98-03 §2, 1998; Ord. 84-61-O §10, 1984; Ord. 81-60-O, 1981; Ord. 71-5-O, 1971; prior code Ch. 7 subch. 2 §4. Formerly §3.08.040].

3.15.050 Adoption – Vote required – Veto.

The budget shall be adopted by the favorable votes of at least a majority of all the authorized membership of the assembly not later than the tenth of June through the adoption of an ordinance setting forth the appropriation levels and the millage rate. The mayor may veto the ordinance but his veto may be overridden by two-thirds of all the votes to which the assembly is entitled on the question. [Ord. 98-03 §2, 1998; Ord. 81-60-O, 1981; Ord. 71-5-O, 1971; prior code Ch. 7 subch. 2 §5. Formerly §3.08.050].

3.15.060 Date of final adoption – Failure to adopt.

The budget shall be adopted not later than the tenth of June prior to the beginning of the budget year. Should the assembly take no action on or prior to such day, the budget, as submitted, shall be deemed to have been finally adopted by the assembly. [Ord. 81-60-O, 1981; Ord. 71-5-O, 1971; prior code Ch. 7 subch. 2 §6. Formerly §3.08.060].

3.15.070 Effective date – Certification.

Upon adoption of the budget through passage of the budget ordinance and tax levy, the budget shall be in effect for the budget year. A copy of the budget as finally adopted shall be certified by the mayor and the clerk and filed in the office of the clerk. Sufficient copies of the budget shall be made available for use of all offices, departments and agencies and for interested persons. [Ord. 98-03 §2, 1998; Ord. 81-60-O, 1981; Ord. 71-5-O, 1971; prior code Ch. 7, subch. 2 §7. Formerly §3.08.070].

3.15.090 Date appropriations shall lapse.

Funds appropriated by the assembly shall lapse for further use in the following manner:

A. For encumbrance (obligation):

1. All single-year funds shall lapse for the purpose of encumbrance on the last day of the fiscal year. The fiscal year is as defined in KIBC 3.15.020.

2. All multi-year appropriations (usually capital projects) shall normally lapse upon completion of the project. When such projects are funded by state or federal grants the legal restraints of acceptance of such grant or loan shall apply.

B. For expenditure (payments):

1. All single-year funds shall lapse as to disbursement of funds upon payment of those encumbrances outstanding at fiscal year end.

2. All multi-year funds shall normally lapse at project completion. Staff will exercise due prudence to ascertain that completion dates and other restraints imposed by the grantor are in compliance. [Ord. 87-03-O §2, 1987. Formerly §3.08.090].

3.15.100 Disposition of lapsed funds.

A. Normally, as borough funds lapse, such amounts are then available for appropriation in subsequent fiscal years. Funds that have lapsed to which the borough does not have full ownership will be returned to the federal, state, or other entity from which the funds were granted, contributed, etc.

B. Funds that lapse shall normally be restored and available in the fund to which originally appropriated. An exception will be that all funds appropriated to the Kodiak Island Borough school district that lapse will remain to the school district’s credit for their subsequent appropriation and use. [Ord. 87-03-O §3, 1987. Formerly §3.08.091].