[2224-6.] SECTION  2240 . Refund of Customs Duties on Material for Public Works. —  The Governor-General is authorized, upon the presentation of a statement of the amount paid, duly certified as correct by the Insular Auditor and the Insular Collector of Customs, and a pproved by the Secretary of Finance and Justice, in his discretion, to direct the reimbursement, from Insular funds, to any municipality in the Philippine Islands of the amount paid by such municipality from its own funds as customs duties on material used  in the construction of municipal waterworks and sewer systems. All sums necessary to make such refunds are hereby appropriated from any funds in the Insular Treasury not otherwise appropriated. [2634-1, 2.] SECTION  2241 . Statement of Receipts and Expenditures for Past Year. — On or before the fifteenth day of January of each year, the municipal treasurer shall present to the council a certified and detailed statement of all municipal receipts and expenditures  pertaining to the preceding year. [82-46.] ARTICLE  XVI Municipal Budget SECTION  2242 . Annual Budget. —  Upon receiving this statement, the council shall make a careful estimate of the probable income of the municipality for the current year and upon this basis shall proceed to make, by way of appropriation, detailed allotments  to the respective municipal requirements for the current year. The appropriation thus made by the council shall constitute the budget, and immediately upon passage it shall be submitted to the provincial treasurer for approval, accompanied by the statement  of receipts and expenditures for the preceding year and the estimate made by the council for the current year. Prior to submission to the provincial treasurer, the allotment for school purposes shall receive the approval of the division superintendent of  schools. Upon approval by the provincial treasurer the budget shall become effective as a lawful appropriation, and the same shall be forthwith returned by him, with the accompanying documents, to the municipal treasurer, through the president. cCHITA Changes in the estimates and allotments of the budget, as well as additions thereto, may in like manner be effected from time to time during the year by supplemental budgets. 658 Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011