Article 230: Estimates of revenues and expenditures of the Village Body and Municipality

1) The Village Executive and the Municipal Executive shall, subject to this Constitution, lay an estimate of revenues and expenditures of every financial year before, and have the estimate passed by, the Village Assembly and the Municipal Assembly, respectively, as provided for in the Local law.

2) If, in laying an estimate of revenues and expenditures under clause (1), the Village Executive or Municipal Executive is required to make a deficit budget, it must also propose the sources to meet the deficit as provided for in the Federal law and the State law.