§ 37-13. Estimate of income for ensuing year; deficiencies.

A. 

It shall be the duty of the trustees each year, prior to January 31, to prepare a full and detailed statement of the anticipated income of said Firemen's Pension Fund for the ensuing fiscal year and the estimated amount which will be required to pay in full all pensions expected to be payable during such fiscal year and to certify the same to the Board of Fire Commissioners. If such certificate shows an anticipated deficiency of income it shall be the duty of the Board of Fire Commissioners each year at the time of making up the departmental estimate on or before the 31st day of January to present the said certificate to the Board of Estimate and Apportionment, together with a statement of the amount of money required to enable the trustees to pay the said pensions in full, as certified to them. It shall be the duty of said Board of Estimate and Apportionment and the Common Council to make an appropriation sufficient to provide such deficiency and the amount so appropriated shall be included in the annual appropriations and in the annual tax levies, and the Comptroller shall pay over the moneys so appropriated to the treasurer of the Fire Department Pension Fund.

B. 

In the event that the amount appropriated for deficiency of income in any fiscal year shall prove insufficient to enable the trustees to pay all pensions in full that shall be due and payable during said fiscal year, the trustees shall certify such fact to the Board of Estimate and Apportionment and the Common Council, which shall issue certificates of indebtedness payable out of the next succeeding tax levy for the amount of the deficiency so certified and the proceeds thereof shall be paid to the treasurer of said Fire Department Pension Fund by the Comptroller.

C. 

In the event that the amount appropriated for deficiency of income in any fiscal year shall prove more than sufficient to enable the trustees to pay all pensions in full that shall be paid during said fiscal year, the treasurer of said pension fund shall retain such excess in the income account of said fund, and shall apply the same as income to the payment of pensions which shall become due and payable during the next succeeding fiscal year.