ORDINANCE 11-159
AN ORDINANCE OF THE CITY OF LAKELAND, TENNESSEE, ADOPTING A
BUDGET FOR FISCAL YEAR JULY 01, 2011 THROUGH JUNE 30, 2012.


Be it ordained by the City of Lakeland, Tennessee as follows:

Section 1. That the total funds received from the sources shown under the attached Line Item Revenue Budget for Fiscal Year beginning July 01, 2011, be, and the same is hereby appropriated for the purpose set forth in detail in the Line Item Expenditures Budget for the payment of expenses and obligations of the City of Lakeland, Tennessee, for Fiscal Year beginning July 01, 2011 as follows:

A. OPERATING REVENUE GENERAL FUND: $4,203,665

B. OPERATING EXPENDITURES GENERAL FUND: $4,203,665

C. CAPITAL REVENUE (GRANTS & TML LOAN): $3,560,000

D. CAPITAL EXPENDITURES: $3,560,000

Section 2. Appropriations not to be exceeded. No expenditure listed above in the budget may be exceeded without appropriate ordinance action to amend the budget. Such action shall fully describe all changes proposed to the budget and shall include the sources of revenue to finance the proposed expenditures.

Section 3. Line item budget required. A line item budget shall be prepared in support of the budget. The line item budget shall be used as guidance and generally following in implementing the subject.

Section 4. Money may be transferred from one appropriation to another in the same fund only by appropriate ordinance by the governing body, subject to such limitations and procedures as it may describe as allowed by Section 6-56-209 of the Tennessee Code Annotated. Any resulting transfers shall be reported to the governing body at its next regular meeting and entered into the minutes.

Section 5. If for any reason a budget ordinance is not adopted prior to the beginning of the next fiscal year, the appropriations in this budget ordinance shall become the appropriations for the next fiscal year until the adoption of the new budget ordinance in accordance with Section 6-56-210, Tennessee Code Annotated provided sufficient revenues are being collected to support the continuing appropriations. Approval of the Director of the Division of State and Local Finance in the Comptroller of the Treasury for a continuation budget will be requested if any indebtedness is outstanding.

First Reading: May 02, 2011.
Public Hearing: May 24, 2011.
Final Reading: June 02, 2011.



Scott Carmichael, Mayor



ATTEST:




Sontidra L. Thomas, CMC
City Recorder