7-6-4229. Determination of projected fund cash flow following hearing -- exception. (1) Upon the conclusion of the hearing, the council shall first determine the amount estimated to accrue to each fund during the fiscal year from all sources except the taxation of property. In so doing, the council may not include any amount anticipated from the payment of taxes that became delinquent during a preceding fiscal year.
     (2) The council shall then determine separately the amount appropriated for and authorized to be spent for each item in the budget and shall specify the fund against which warrants are to be drawn for the expenditures. There may not be added to the amount appropriated and authorized to be spent for an item or purpose or to the total amount appropriated and authorized to be spent from any fund, other than a fund for the payment of principal or interest on outstanding bonds, any amount because of anticipated loss of revenue by reason of nonpayment of taxes levied for the fiscal year. The expenditures authorized from a fund, including reserve, may not exceed the aggregate of:
     (a) the cash balance in the fund at the close of the preceding fiscal year in excess of outstanding unpaid warrants against the fund at the close of that fiscal year;
     (b) the amount of estimated revenue to accrue to the fund; and
     (c) the amount that may be raised for the fund by a lawful tax levy during 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. 6, Ch. 121, L. 1931; re-en. Sec. 5083.6, R.C.M. 1935; amd. Sec. 1, Ch. 129, L. 1941; amd. Sec. 51, Ch. 348, L. 1974; amd. Sec. 14, Ch. 213, L. 1975; R.C.M. 1947, 11-1406(2); amd. Sec. 58, Ch. 430, L. 1995.