SECTION 374

(1) Each year, before 1 August, the executive organ of the local authority shall forward to the deliberative organ, the medium-term framework documents referred to under Section 373 above, alongside a report on the regional or local economic situation and level of the execution of the budget for the current financial year. (2) On the basis of these documents and reports, the deliberative organ shall hold a budget policy debate in public session, but without a vote. (3) The budget of the local authority adopted and approved shall be in line with the first year of the medium-term framework, as adopted during the budget orientation debate.