N.Y. Village Law § 5-502: Submission of estimates

§ 5-502 Submission of estimates. l. On or before the eighth day of

February in each year, or such other date as may be applicable pursuant

to section 5-510 of this article, the budget officer shall give written

notification to the head of each administrative unit that he shall

submit estimates, schedules, and statements as hereinafter provided.

Such notice shall specify the form in which such information shall be

submitted.

2. On or before the first day of March in each year, or such other

date as may be applicable pursuant to section 5-510 of this article or

section 17-1729 of article seventeen, and except as may be otherwise

provided in subdivision four of this section, the head of each

administrative unit shall submit to the budget officer an estimate of

revenues and expenditures of such administrative unit for the ensuing

fiscal year. Such estimate shall show the sources of all revenue, shall

itemize the character and object of each expenditure and shall contain

such additional information as the budget officer shall prescribe.

3. If the head of an administrative unit shall fail to submit an

estimate as herein provided, the budget officer shall forthwith prepare

an estimate for such administrative unit.

4. An estimate shall not be submitted as above provided for a

municipal electric, gas or steam utility service, but the head of such

utility service shall submit in lieu thereof a statement showing:

a. The amount required for payment of installments of principal of and

interest on indebtedness incurred for the purposes of the service to

become due and payable during the next fiscal year; and

b. The estimated operating and non-operating income and estimated

expenditures for the next fiscal year, classified in accordance with the

requirements of the public service commission, but in such detail only

as the board of trustees shall require; and

c. A proposed schedule of salaries and wages to be paid for personal

services.

5. The board of trustees of a village which owns and operates a water

utility and which maintains an alternate system of accounts approved by

the state comptroller as defined in subdivision six of section 5-500 of

this article may require that a statement shall be submitted in lieu of

an estimate as in the case of a municipal electric, gas, or steam

utility service.