The president of the city council shall call a meeting of the
city council prior to the commencement of the budget process, but
not later than October 30, to review the financial condition of the
city, revenue and expenditure forecasts, and other information relevant
to the budget process. The president also shall invite the city's
state legislative delegation and representatives of the school committee
and library board of trustees to attend this meeting. Subsequent to
this meeting, the city council shall meet to set policy goals with
input from the city manager and the community. Based on these goals,
the city manager will develop budgetary goals and the city budget.
The city manager shall, within 14 days after the receipt of
departmental budget proposals, but in no event later than January
31, prepare and submit to the city council a synopsis of all proposed
budget initiatives and requests for additional funding for its review
and prioritization. The synopsis shall include a summary of each initiative,
its justification and its estimated costs. Councilors may also propose
budget initiatives for review and prioritization. Any such proposal
must include a summary, justification and estimate of costs. The city
manager shall provide an estimate of projected revenues.
By the first regularly scheduled city council meeting in April,
or a later date if approved by a vote of the city council, the city
manager shall submit to the city council a proposed operating budget
for the ensuing fiscal year, which shall provide a complete financial
plan of all city funds and activities for the ensuing fiscal year,
an accompanying budget message, and supporting documents.
The message of the city manager shall explain the proposed budget
for all city agencies, in fiscal terms, in terms of work programs,
and as to how the budget incorporates the policy goals established
by the council. It shall outline the proposed financial policies of
the city for the ensuing fiscal year, describe the important features
of the budget, indicate any major changes from the current fiscal
year in terms of financial policies, expenditures or revenues, together
with the reasons for such changes, show the amount budgeted and actually
expended for the current fiscal year, summarize the city's debt position,
and include such other material as the city manager deems desirable
or the city council may reasonably require.
The city council shall provide for an audit to be completed
by a certified public accountant, or firm of such accountants not
later than December 31st following the close of each fiscal year.