Budget and Appropriations
State law 50 ILCS 330/3 requires municipalities, within or before the first quarter of each fiscal year, to adopt a combined annual budget and appropriation ordinance, which appropriates the money needed to defray all necessary expenses and liabilities of the municipality. The ordinance specifies the objects and purposes for which such appropriations are made and the appropriation amount.
Beginning in May of each year, the Village of Bellflower develops an annual budget which outlines both income and expenditures that are projected to be received and paid over the fiscal year. The budget is a tool that helps the village board manage actual spending within budget limits.
After the budget is approved, the village board adopts the appropriations ordinance, which represents the maximum amount of money that may be expended during the fiscal year. To accommodate needs unknown at the time of budget planning, and to provide a cushion for spending variances, the appropriations ordinance is based on the annual budget for each account plus 10%.
The adopted appropriations ordinance must be filed with the McLean County Clerk no later than July 31.