The council shall adopt the budget and make the appropriation by ordinance no later than the fifteenth (15th) day of June. Failing adoption, the budget estimate as submitted or amended shall go into effect and be deemed to have been adopted by the council; and the proposed expenditures therein shall become the appropriations for the next fiscal year. [Ord. 17-43 § 2; Ord. 161 § 2, 1985.]