§ 23.7-703. Budget Amendment.

 A. Council may, by ordinance, which shall be effective immediately upon adoption, amend the financial plan by:

   1. Making supplemental appropriations only when the Finance Director certifies there are available for such appropriations, revenues in excess of those estimated in the financial plan;

   2. Reducing one or more appropriations when the Finance Director has reason to believe revenues available will be insufficient to meet the amounts appropriated, which fact he shall report to the Manager and Council without delay, indicating the estimated amount of the deficit, any remedial action he has taken and his recommendation as to any steps to take;

   3. Transferring part or all of any unencumbered appropriation balance from one department, office or agency to another Council shall clearly state the reason for doing so and the amount of the funds affected both before and after the transfer;

   4. Making emergency appropriations and providing for the funding thereof in accordance with the provisions of Article V of this Charter and by law.

 B. Every appropriation shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered.