N.Y. Second Class Cities Law § 75: Annual estimate

§ 75. Annual estimate. Within sixty days after the commencement of

each fiscal year, the board of estimate and apportionment shall make an

itemized statement, in writing, of the estimated revenues and

expenditures of the city for the fiscal year, which shall be known as

its annual estimate, provided, however, that if in the city the taxes

for state, county and city purposes are included in one levy, the common

council may, by ordinance, direct that the said estimate be made within

sixty days prior to the commencement of such fiscal year. The estimate

of revenues shall contain an estimate of the probable revenues which, in

the judgment of the board of estimate and apportionment, will be

received by the city during the fiscal year, less the amount required to

be deposited to the credit of the sinking fund, if any; a statement of

the amount of the sinking fund which, in the judgment of the board of

estimate and apportionment, is available and should be applied to the

payment of the principal of any bonded indebtedness of the city falling

due during the said fiscal year; and a statement of all unexpended

balances or estimated unexpended balances of the previous fiscal year

remaining to the credit of the city, or of any office, board or

department thereof. The estimate of expenditure shall contain an

estimate of the several amounts of money which the board of estimate and

apportionment deems necessary to provide for the expenses of conducting

the business of the city in each board, department and office thereof

and for the various purposes contemplated by this chapter and otherwise

by law for the said fiscal year; to pay the principal and interest of

any bonded or other indebtedness of the city falling due during the said

fiscal year; and the amount of any judgments recovered against the city

and payable during the said fiscal year. After said annual estimate

shall have been completed, the board of estimate and apportionment shall

submit the same in final form to the common council with a statement, in

writing, of such reasons for such estimate as it may deem proper. The

common council shall as soon thereafter as may be possible, convene and

consider the said estimate. It shall give a public hearing to such

persons as wish to be heard in reference thereto. After such hearing,

and, within thirty days after such estimate shall have been submitted to

it, the common council shall adopt such estimate so submitted or shall

diminish or reject any items therein contained, and adopt said estimate

as so amended. The common council shall not have the power to diminish

or reject any item which relates to salaries, the indebtedness or

estimated revenues, or the sums directed by the board of supervisors of

the county within which the city is situated to be levied within the

city for state and county purposes, or the sums lawfully payable within

said fiscal year upon judgments; nor shall the common council increase

any item, for any purpose contained in said estimate.

In a year when a special city election may be held under the

provisions of the city local option law, the board of estimate and

apportionment shall include in the annual estimate an estimate of

probable revenues from the excise tax based upon the number of liquor

licenses in force, if any, in such city at the time such annual estimate

is made; and in case there are no liquor licenses in force at the time

the annual estimate is made, the board of estimate and apportionment

shall omit from the annual estimate any estimate of probable revenues

from the excise tax and include as its estimate of probable revenues

only those derived from other sources. If such election be held and the

result thereof alters the probable revenues from the excise tax, a

supplemental estimate shall be made and filed, revising and supplying or

striking out, according to the result of the election, any items omitted

or included therein upon the basis of there being probable revenues or

no probable revenues from such tax. Such supplemental estimate, if any,

shall be made and filed as soon as practicable after such board shall

ascertain the necessary facts and not later than the completion of the

tax budget in time for the annual tax levy as provided by law. On demand

by such board, the secretary of the board of canvassers shall certify as

to the result of the vote at any such election. In any case where a

special election or the result of a vote thereat is the subject of

judicial proceedings a county clerk in whose office an order is filed or

entered affecting such election or vote shall notify such board of the

filing or entry of the order immediately thereafter. Any such

supplemental estimate shall be deemed a part of the annual estimate and

amendatory thereof.