§ 3-116. Budget of Revenues.

(1)

The Council, at the meeting at which the annual operating budget ordinance is adopted and within the limits of its power and subject to other provisions of this Charter, shall ordain such taxes and other revenue measures as will yield sufficient revenue which together with available surplus will balance said budget.

(2)

The annual operating budget ordinance shall not become effective until the budget has been balanced. The Department of Finance shall not approve any expenditure under any portion of an annual operating budget ordinance until sufficient estimated revenues have been provided to finance the proposed expenditures.

(3)

Revenues shall be estimated only upon the basis of generally accepted accounting principles as defined by the Governmental Accounting Standards Board, or any successor organization, for the fiscal year.