§ 4.11. Adoption of the annual budget.

After the conclusion of such public hearing or hearings, the council may insert new items or may increase or decrease the various items of the proposed budget. In no event, shall the total amount of the proposed expenditures of the fund exceed the estimated revenues and available fund balance at the beginning of the budget year for such fund. The annual budget so derived shall be adopted by the favorable vote of not less than a majority of the entire council, not later than the last Monday of the month preceding the first month of the budget year for which the annual budget was intended. Should the council take no action on or prior to that date, the proposed budget as submitted shall become the annual budget and shall be effective without council action.