[HISTORY: Adopted by the Village Board of the Village of Grafton as Title 3, Ch. 3.12, of the 1979 Code. Amendments noted where applicable.]
Departmental estimates. On or before October 15 of each year, each officer, department or board shall file with the Village Clerk an itemized statement detailing estimates of anticipated disbursements for the ensuing fiscal year that are necessary to carry out the powers and duties of such officer, department or board. Such statement shall be presented in the form prescribed by the Village Clerk and shall be designated as "departmental estimates" and shall be as near uniform as possible for the main divisions of all departments.
The Village President and Administrator shall consider such departmental estimates in consultation with the department head and shall then determine the total amount to be recommended in the budget for each department or activity.
On or before the 1st of November of each year, the Village Administrator shall prepare and submit to the Village Board a proposed budget presenting a financial plan for conducting the affairs of the Village for the ensuing calendar year, which will include the following information:
The actual expenditures of each department and activity for the expired portion of the current year and last preceding fiscal year and the estimated expense of conducting each department and activity of the Village for the remainder of the current year and ensuing fiscal year, with reasons for any proposed increases or decreases as compared with actual and estimated expenditures for the current year;
An itemization of all anticipated income of the Village from sources other than general property tax and bond issues, with a comparative statement of the amounts received by the Village for each of the same or similar sources for the last preceding and current fiscal year;
All existing indebtedness of the Village, including the amount of interest payable and principal to be redeemed on any outstanding general obligation bonds or notes of the Village and any estimated deficiency in the sinking fund of any such bonds or notes during the ensuing fiscal year;
An estimate of the amount of money to be raised from general property tax which, with income from other sources, will be necessary to meet the proposed expenditures;
Such other information as may be required by the Village Board and by the state law. The Village Board shall provide a reasonable number of copies of the budget thus prepared for distribution to citizens.
The Village Administrator shall submit to the Village Board at the time the annual budget is submitted the draft of an appropriation ordinance providing for the expenditures proposed for the ensuing fiscal year. Upon the submission of the proposed appropriation ordinance to the Village Board, it shall be deemed to have been regularly introduced therein.
The Village Board shall hold the public hearing on the budget and the proposed appropriation ordinance as required by law.
Upon written recommendation of the Village President or Administrator, the Village Board may, at any time by two-thirds' vote of the entire membership, transfer any portion of an unencumbered balance of an appropriation to any other purpose or object. Notice of such transfer shall be given as required by law.
No money shall be drawn from the treasury of the Village nor shall any obligation for the expenditure of money be incurred except in pursuance of the annual appropriation ordinance and changes therein authorized in accordance with § 3.12.040. At the close of each fiscal year, any unencumbered balance of an appropriation shall revert to the general fund and shall be subject to appropriation, but appropriations may be made by the Village Board to be paid out of the income of the current year in furtherance of improvements or other objects or works which shall not be completed within such year, and any such appropriation shall continue in force until the purpose for which it is made has been accomplished or abandoned.