§ 1.7-704. Approval of the Budget.

 Upon the completion of the public hearings, but not later than December 1 of the year in which the proposed budget is submitted, the Board shall adopt a budget. The Board may add to, delete from, increase or decrease any appropriation item in the proposed operating or capital budget. The budget as adopted must be a balanced budget with no planned deficit. No amendment shall increase authorized expenditures to an amount greater than the total of estimated income and cash reserve unless action is also taken to increase revenue to such a level. No amendment shall change expenditures required by law or for debt service or for any estimated unpaid obligations. When the budget has been adopted, the Board shall thereupon fix such rates of taxation as will, together with all other estimated revenues, raise a sufficient sum to meet budgeted expenditures. Adoption of the budget shall constitute the appropriation of the amounts specified therein as expenditures from the funds indicated. The budget as adopted shall be a public record.

   This section cited in 339 Pa. Code §  1.11-1112 (relating to transition procedure).