City of Wildwood, MO
St. Louis County
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Table of Contents
Table of Contents
The fiscal year of the City shall begin on the first day of July and end on the last day of June, unless otherwise set by ordinance.
The budget shall provide a complete financial plan of all City funds and activities for the ensuing fiscal year and, except as required by law or this Charter, shall be in such form as the City Administrator deems desirable or the City Council may require. The budget shall indicate in separate Sections:
Proposed expenditures for current operations during the ensuing fiscal year and the method of financing such expenditures and
Proposed capital expenditures during the ensuing fiscal year and the proposed method of financing each such capital expenditure.
In no event shall the total proposed expenditures from any fund exceed the estimated revenues to be received plus any unencumbered balance or less any deficit estimated for the beginning of the budget year. Nothing herein shall be construed as requiring the city to use any cash balance as current revenue, or to change from a cash basis of financing its expenditures.
[Ord. No. 1567 §§ 1—2, 10-27-2008—passed in the election of 4-7-2009]
The capital improvement program shall include:
A clear general summary of the contents,
A list of all capital improvements proposed to be undertaken during the five fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements,
A cost estimate, a method of financing and a recommended time schedule for each such improvement, and
The estimated annual cost of operating and maintaining the facilities to be constructed or acquired.
The above information shall be revised and extended each year with regard to the capital improvements still pending or in process of construction or acquisition.
Certain Capital Expenditures—Voter Approval Required. No expenditures funded by City revenues raised by City taxes and fees and exceeding a total project cost to the City of three million five hundred thousand dollars ($3,500,000.00) shall be made for the construction or reconstruction of a capital improvement (exclusive of streets and public transit) until such expenditures are approved by the voters of the City. If a majority of the voters are in favor of the question, the City Council may, subject to the provisions of the Charter and applicable ordinances, spend or authorize such expenditures. In response to an emergency or natural disaster, submittal to the voters shall not be required for expenditures to repair, replace or build capital improvements that the Council deems necessary for the immediate protection of the health, safety and welfare of the public. The limitation on expenditures provided for in this Section shall be increased or decreased on an annual basis effective January first of each calendar year in accordance with the Implicit Price Deflator for Personal Consumption Expenditures as published by the Bureau of Economic Analysis of the United States Department of Commerce or such other nationally recognized and conveniently available commodity or consumer price index as may be approved by the City Council by ordinance.
[Ord. No. 2311, 10-23-2017[1]]
Editor's Note: The change to this Section was approved by a majority of the electorate at the election on 4-3-2018.
In such time-frame as established by ordinance, but not less than forty-five (45) days prior to the beginning of each fiscal year, the City Administrator shall submit to the Mayor and the City Council the proposed budget and capital improvement program.
Public Hearing. After appropriate notice, a public hearing on the proposed budget shall be held prior to its adoption.
Amendment Before Adoption. After the public hearing, the City Council may approve the budget and capital improvement program with or without amendment. In amending the budget and/or the capital improvement program, the City Council may add or decrease programs or amounts, except expenditures required by law or for debt service.
Adoption. The budget and the capital improvement program shall be adopted by ordinance on or before the last day of the fiscal year currently ending. If the budget is not adopted by this date, the amounts appropriated for current operation for the current fiscal year shall be deemed adopted for the ensuing fiscal year on a month-to-month basis, with all items in it prorated accordingly, until such time as the City Council adopts a budget for the ensuing fiscal year. Adoption of the budget shall constitute appropriation of the amounts specified therein as expenditures from the funds indicated.
Copies of the budget and capital improvement program as adopted shall be public records and shall be made available to the public at City Hall and other suitable places in the City.
Supplemental Appropriation. If during the fiscal year the City Administrator certifies that there are available for appropriation revenues in excess of those estimated in the budget, the City Council by ordinance may make supplemental appropriation for the year up to the amount of such excess.
Reduction Of Appropriation. If at any time during the fiscal year it appears probable to the City Administrator that the revenues available will be insufficient to meet the amount appropriated, the City Administrator shall report to the City Council without delay, indicating the estimated amount of the deficit, any remedial action taken and recommendations as to any other steps to be taken. The City Council shall then take such further action as it deems necessary to prevent or minimize any deficit, and for that purpose it may by ordinance reduce one or more appropriations.
Transfer Of Appropriations. At any time during the fiscal year, the City Administrator with the approval of the City Council may transfer part or all of any unencumbered appropriation balance among departments within a fund and, upon written request by the City Administrator, the City Council may by ordinance transfer part or all of any unencumbered appropriations balance from one fund to another.
Taxes shall be levied by ordinance in accordance with law.
The City shall be authorized to sell any bonds as may now or hereafter be authorized by law. Bonds sold by the City may be sold at private or public sale authorized by law. In the event such bonds are to be sold at public sale, the same shall be sold upon sealed proposals after reasonable public notice has been given as provided by ordinance or otherwise by law. Any public sale shall be conducted according to such terms and conditions as may be provided by ordinance.
The investment objective of the City shall be the safety of the principal and each investment shall seek first to insure that capital losses are avoided, whether from securities default or erosion of market value.
The City Council shall provide for an independent audit of all City accounts at least annually. Such audits shall be made by a certified public accountant or firm of such accountants having no personal interest, direct or indirect, in the fiscal affairs of the City or any of its officers. A copy shall be kept in the City Clerk's office and shall be open to public inspection. No certified public accountant or firm shall conduct the audit for more than four (4) consecutive years without competitive rebidding.
Report To Public. A fiscal report shall be published semi-annually in one (1) or more newspapers or publications of general circulation in the City.
Report To City Council. A current fiscal report shall be provided quarterly, or more frequently if required by ordinance, to each member of the City Council. The fiscal report shall include actual revenue and expenditures compared to budgeted amounts.
It shall be the fiscal policy of the City to conserve public moneys while efficiently providing municipal services or infrastructure, to operate the City with a minimum of bureaucracy, and to provide government services by contract with private providers when feasible and appropriate. The City should consider the viability, quality, and cost effectiveness of contracting for all new major services prior to providing such services directly by City employees, provided no ordinance may be invalidated based upon failure to comply with this provision.