The fiscal year of the City shall begin on the first day of
January.
Pursuant to Section 517 and Section 518 of the Charter Law, the City budget shall consist of the following:
A. General fund operating budget.
C. Capital improvement reserve budget.
D. Such other budgets as may be required by law or agreement.
At the last stated meeting in November, the Manager shall submit
to Council his recommended budget in the form of an ordinance, together
with such explanatory comment or statement as he may deem desirable.
Public hearings shall be held on the recommended budget before action
thereon is taken. Council shall, upon passing the proposed budget
ordinance on the first reading, fix a date for adoption thereof, which
shall be no later than the 31st day of December immediately following.
No City personal property with an estimated value of $500 shall
be disposed of by sale except upon approval by Council and on such
conditions as Council may designate in accordance with applicable
law.
Pursuant to Section 520 of the Charter Law, all accounts of the City shall be audited following the
close of each fiscal year by an independent certified public accountant,
selected by resolution of Council, to be provided to Council no later
than September 1 of each year for the prior year. The firm chosen
to conduct the audit for the City should be let out for bid via request
for proposals at least every three years.