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Budget Basics 1. Every local government in New York State is required to adopt a budget for all major operating funds it maintains. Garbage & General Highway Fire Ambulance Lighting Water Refuse 2. The budget is comprised of two major parts: Budgeted Revenues Appropriations The financing Sources expected to The legally authorized limits for be used to finance operations using the estimated revenues during a single fiscal year “Money In” “Money Out” 3. What is the budget? A plan of services to be provided to the taxpayers AND the funding sources to pay for the services Future Future Upcoming Year Known Events Unforeseen Events Fund Balance (Reserves) (Contingencies) 2