7-6-4030. Final budget — resolution — appropriations. (1) The governing body may amend the preliminary budget after the public hearing and after considering any public comment.

Terms Used In Montana Code 7-6-4030

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Governing body: means the elected body responsible for the administration of a local government. See Montana Code 7-6-4002
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: means real and personal property. See Montana Code 1-1-205

(2)The amended budget constitutes the final budget. The final budget must be balanced so that appropriations do not exceed the projected beginning balance plus the estimated revenue of each fund for the fiscal year.

(3)The governing body shall adopt the final budget by resolution. The resolution must:

(a)authorize appropriations to defray the expenses or liabilities for the fiscal year;

(b)establish legal spending limits at the level of detail in the resolution; and

(c)include any increase in property taxes, including an increase authorized under 15-10-420(1), and the amount by which property taxes will increase on homes valued at $100,000, $300,000, and $600,000.

(4)The effective date of the resolution is July 1 of the fiscal year, even if the resolution is adopted after that date.

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