7-6-4267. Final municipal budget -- approval and adoption -- appropriations. (1) Following the public hearing and after taking into consideration any public comment, the governing body may amend the preliminary municipal budget. The preliminary municipal budget must be updated by the finance officer, reflecting any changes made by the governing body. The amended preliminary municipal budget, as approved by the governing body, constitutes the final budget of the municipality for the fiscal year that it is intended to cover. The governing body shall then pass a resolution for the fiscal year adopting the final municipal budget and authorizing appropriations.
     (2) The resolution must authorize appropriations of enough money to defray the expenses or liabilities of the municipality for the fiscal year. The level of detail in the resolution establishes the legal spending limits of the municipality. The effective date of the resolution is the first day of the fiscal year.
     (3) This section does not apply to a municipality that has adopted the alternative accounting method provided for in Title 7, chapter 6, part 6.

     History: En. Sec. 22, Ch. 458, L. 1997.