Sec. 3-1-1    Fiscal year same as calendar year
Sec. 3-1-2    Annual budget
Sec. 3-1-3    Rate of tax levy
Sec. 3-1-4    Annual appropriation
Sec. 3-1-5    Publication of financial statements
Sec. 3-1-6    Deposits; investments
Sec. 3-1-7    Annual audit

 

The fiscal year of the Town shall commence on the first day of January and end on the last day of December of each year.

The Town Administrator shall submit to the Board of Trustees the itemized annual budget for the ensuing year as prescribed by state statute.  The budget as approved by the Board shall be adopted and administered in accordance with the provisions of the Local Government Budget Law of Colorado.  (Ord. 510 §1, 2003)

The Board of Trustees shall by resolution fix the rate of tax to be levied upon all the taxable property within the Town for municipal purposes and, through the Town Clerk, shall officially certify said levy to the Board of County Commissioners of Weld County as prescribed by state statute.  (Ord. 510 §1, 2003)

The Board of Trustees shall pass a resolution within the last quarter of each fiscal year, to be termed the annual appropriation resolution for the next fiscal year.  In such resolution, the Board shall appropriate such sums of money as are necessary to cover the items in its budget and to defray all necessary expenses and liabilities of the Town, specifying the objects and purposes for which such appropriations are made and the amount appropriated for each object or purpose.  The total amount appropriated shall not exceed the probable amount of revenue that will be collected during the fiscal year.

The Board of Trustees shall, within twenty (20) days after the adjournment of each regular or special meeting, publish such of its proceedings as relate to the payment of bills, stating for what the same are allowed, the name of the person to whom allowed and to whom paid.  It shall also publish a statement concerning all contracts awarded and rebates allowed.

The Town Treasurer shall deposit all of the funds and moneys which come into his or her possession by virtue of his or her office as Town Treasurer in one (1) or more responsible banks located in the State of Colorado which have been designated by written resolution, to invest all or any part of such funds in securities which are authorized for such investment by state law.

The Board of Trustees shall select a qualified person as auditor and cause to be made an annual audit of the financial affairs and transactions of the Town in accordance with the requirements of state law.