The fiscal year of the city shall begin on the first day of
July and end on the last day of June unless otherwise provided by
ordinance. The fiscal year shall constitute the budget and accounting
year.
On or before the sixtieth (60th) day preceding the beginning
of the fiscal year, the manager shall submit to the council a proposed
budget for the ensuing fiscal year and an accompanying message.
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 manager deems
desirable or the council may require.
Copies of the budget and the capital program of all city entities
as adopted shall be public records and shall be made available to
the public at suitable places in the city to include city hall, the
library, and via electronic access such as a city managed website.
After the budget is finally adopted, the council shall by ordinance
set the tax rates and levy on the various classes of property, and
the levy so established shall be certified by the city clerk to the
appropriate official, who shall compute the taxes and extend them
upon the tax rolls.
a. Public Hearing Before Ad Valorem Tax Rates Set. After
the budget is finally adopted, the council shall by ordinance set
the ad valorem tax rate. Before adopting said ordinance, the city
council shall hold a public hearing on the proposed tax rates, at
which citizens shall have the opportunity to speak and be heard. Notice
of this hearing (stating the hour, date, and place of the hearing)
shall be published in at least one (1) newspaper of general circulation
in the city at least seven (7) days prior to the date of the hearing.
Upon adoption of the tax rate ordinance, the city clerk shall certify
the rate to the appropriate official, who shall compute the taxes
and extend them upon the tax rolls.
b. Election for Increased Taxes. In compliance with
the Missouri Hancock Amendment to the state constitution, the city
is hereby prohibited from levying any tax not currently authorized,
or from increasing the current levy of an existing tax, above the
levy authorized by law without the approval of a majority of the qualified
voters voting hereon.