[Amended by L. 1943, c. 710]
No expenditure shall be made or obligation incurred by the Common Council or by any department, board, commission or officer unless an appropriation therefor shall have been made and there be at the time a sufficient unencumbered balance of such appropriation or payable from the proceeds of the sale of bonds or notes or unless the issue therefor shall have been duly approved as required by the Local Finance Law.