§ 10.01. Fiscal year.

The fiscal year of the city shall begin on the first day of October of each calendar year and shall end on the thirtieth day of September of the following calendar year. The fiscal year will also be the accounting and budget year.

All funds collected by the city during any fiscal year, including both current and delinquent revenue, shall belong to such fiscal year and, except funds designated to pay interest and create a sinking fund on any indebtedness of the city, may be applied to the payment of the expense incurred during such fiscal year. Any revenues, uncollected at the end of any fiscal year, and any unencumbered funds actually on hand, shall become resources of the next succeeding fiscal year.