§ 19.12. Finance.

(a)

The fiscal year of the new government shall be January 1 through December 31. The fiscal year of the school district is not affected by adoption of this Charter.

(b)

Immediately after ratification of this Charter, the assembly for the new government shall prepare a six-month budget for the period July 1, 1976, through December 31, 1976, with respect to former governments which operated on a July 1 through June 30 fiscal year, and a budget for the period January 1, 1976 through December 31, 1976, with respect to former governments which operated on a January 1 through December 31 fiscal year. The assembly shall approve and appropriate funds for these budgets.

(c)

Not later than April 1, 1976, October 1, 1976 and April 1, 1977, the assembly of the new government shall complete a financial report covering the activities provided for in the budgets for the former governments for their respective budget periods.

(d)

The assembly for the new government shall prepare, approve and appropriate funds for a budget for Anchorage for the period January 1, 1977 through December 1, 1977.

Editor's note

The charter commission's commentary on subsection (b) of this section is printed following the Charter as section 19.12(b) of such commentary.