Limitation Upon Adjournment of Revenue Conferences and Budget Sample Clauses

Limitation Upon Adjournment of Revenue Conferences and Budget. Adoption. A Revenue Conference shall not be adjourned until the Board Chairman determines that either (a) a consensus regarding the Revenue Estimation based upon reasonable assumptions (economic or otherwise) has been reached or (b) sufficient Revenue Estimation Evidence exists to allow for a Revenue Estimation, despite any inability to reach a consensus with respect to such Revenue Estimation. The Mayor shall not develop or propose a Budget that (a) reflects revenues in excess of the Revenue Estimation for that year, (b) reflects the collection of revenue from sources not approved by the Financial Advisory Board or (c) incorporates payments not approved by the Financial Advisory Board as part of the Budget. A Revenue Estimation shall set forth discrete revenue estimates from each of the City's major revenue sources, in a form consistent with Treasury Department pronouncements, including all of the following: (a) property taxes; (b) income taxes; (c) State revenue sharing and other State grants; (d) federal grants; (e) licenses, fees, and permits; (f) interest income; (g) proceeds from the sale of any City-owned assets; (h) operating transfers or reimbursements from other funds; and (i) other funds if required by the Charter.
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