motion directing the payment of money or creating liability , but other measures shall prevail upon the majority vote of the members present at any meeting duly called and held. Each ordinance shall be sealed with the municipal seal, signed by the president and municipal secretary, and duly recorded. Each ordinance  shall, on the day after its passage, be posted by the municipal secretary at the main entrance to the municipal building and shall take effect and be in force on and after the tenth day following its passage, if no date is fixed in the ordinance. ( e ) Passing on nominations . — At the first regular meeting after the appointment or election and qualification of a new president, the council shall pass on his nominations of nonelective municipal officers and employees and shall prescribe the duties of a ll appointive municipal officers and employees when not determined by this title or municipal ordinances. TEDAHI (f) Annual report and budget . — During the month of January of each year the council shall prepare and present to the provincial treasurer for approval a report containing in itemized form and in detail: ( 1 ) Inventory . — An inventory of land, buildings, and other property, real and personal, belonging to the municipality, including cash in the treasury. DHIaTS ( 2 ) Liabilities . — A statement of the liabilities of the municipality. SECAHa ( 3 ) Revenues . — An estimate of the revenues of the municipality from all sources for the ensuing fiscal year, with a statement opposite each item of the amounts realized from such sources during the preceding twelve months. ( 4 ) Ordinary expenses . — An estimate of the ordinary expenses for the ensuing year with a statement opposite each item of the corresponding expenses during the preceding twelve months. The estimated shall not exceed the estimated resources. This e stimate shall include a statement of outstanding indebtedness, if such exists. ( 5 ) Extraordinary expenses . — An estimate of such extraordinary expenditures as may be necessary for any purpose, the approximate total expenditure recommended, and the amount Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 827