Reduction of Appropriations - If at any time during the fiscal year it appears probable to the Mayor that the revenues available will be insufficient to meet the amount appropriated, he shall provide a report to the Council without delay indicating the estimated amount of deficit and his recommendations as to any steps to be taken. The Council shall then take such further action as it deems necessary to prevent or minimize any deficit, and for that purpose it may by ordinance reduce one (1) or more appropriations. Revenue – Income received by the Town government in support of the government's program of services to the community. It includes such items as sales tax, property taxes, fees, user charges, grants and fines. Request for Proposal (RFP) – An early stage in a procurement process, issuing an invitation for suppliers, often through a bidding process, to submit a proposal on a specific commodity or service.
Supplemental Appropriation The Council may make additional appropriations by ordinance during the fiscal year for unanticipated expenditures required of the Town. Such additional appropriations shall not exceed the amount by which actual and anticipated revenues of the year exceed the revenues as estimated in the budget, unless the appropriations are necessary to relieve an emergency endangering the public peace, health, safety or property. Supplies – The cost of goods acquired for consumption or resale. Transfers – The movement of monies from one fund to finance activities in another fund. The monies are considered a financing source for the receiving fund and a financing use for the originating fund. Transfers are at Council’s discretion and for an appropriate purpose, such as to support other funds and legal debt service agreements. Transfer of Appropriations - The Council may by resolution transfer any unencumbered appropriation, balance or portion thereof from one (1) department, office or agency to another. UDFCD – Urban Drainage and Flood Control District
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