DENALI BOROUGH, ALASKA

ORDINANCE NO. 92-10

INTRODUCED BY: Sid Michaels

AN ORDINANCE AMENDING CHAPTER 16, SECTION 2-C OF THE DENALI BOROUGH

CODE OF ORDINANCES TO CLARIFY FORWARD FUNDING REQUIREMENTS.

BE IT ENACTED by the Assembly of the Denali Borough, Alaska that:

Section 1. Classification.

This ordinance is of a general and permanent nature.

Section 2. Chapter 16, Section 2-C amended.

Chapter 16, Section 2-C of the Denali Borough Code of Ordinances is hereby amended to read as follows:

Section 2. Scope of Budget.

A. The budget shall be a complete financial plan for all the operations of the Denali Borough, showing all reserves, all estimated revenues from all sources, and all proposed expenditures for all purposes.

B. The budget shall contain at least the following:

1. a comparative statement of actual expenditures and actual revenues for the preceding fiscal year;

2. estimated expenditures and estimated revenues for the current fiscal year;

3. projected revenues and expenditures for the budget year, and

4. a brief explanation of each item.

C. Forward Funding Requirement. Proposed expenditures shall not exceed the total available reserves and the revenues collected but not expended or allocated [the previous year.] at the time the proposed budget is introduced.

Section 3. Effective Date.

This ordinance becomes effective upon adoption by the Denali Borough Assembly and signature of the Mayor.

DATE INTRODUCED: June 14, 1992

FIRST READING: June 14, 1992

PUBLIC HEARING: July 12, 1992

PASSED and APPROVED by the DENALI BOROUGH ASSEMBLY this 12th day

of July, 1992.

SIGNATURE ON FILE

Mayor

ATTEST: SIGNATURE ON FILE

Borough Clerk