The fiscal year of the City shall begin on the first day of
July and shall end on the last day of June, unless another period
is required by general law.
Not later than 90 days before the start of the City's fiscal
year, the Mayor shall submit to the City Council a proposed operating
budget for the ensuing fiscal year with an accompanying budget message
and supporting documents. The Mayor shall simultaneously provide for
the publication in a local newspaper of a notice and a general summary
of the proposed budget. The summary shall specifically indicate any
major variations from the current operating budget and the reason
for such changes. The notice shall further indicate the times and
places at which complete copies of the proposed operating budget for
the City are available for examination by the public.
The budget message of the Mayor shall explain the budget for
all City agencies both in fiscal terms and in terms of work programs.
It shall outline proposed financial policies of the City for the ensuing
fiscal year, describe important features of the budget, indicate any
major variations from the current fiscal year in financial policies,
expenditures and revenues together with the reasons for such changes,
summarize the City's debt position and include other material
as the Mayor deems desirable, or as may be required by the provisions
of a City ordinance.
The proposed operating budget shall provide a complete financial
plan for all City funds and City activities for the ensuing fiscal
year. Except as may otherwise be required by general law, or this
Charter, it shall be in the form which the Mayor deems desirable or
as a City ordinance may require. In the presentation of the budget,
the Mayor shall utilize modern concepts of fiscal presentation so
as to furnish an optimum level of information and the best financial
control. The budget shall show in detail all estimated income from
the proposed property tax levy and from all other sources and all
proposed expenditures, including debt service, for the fiscal year.
The budget shall be arranged to show the actual and estimated income
and expenditures for the previous, current and ensuing fiscal years
and shall indicate in separate sections:
1. Proposed expenditures for current operations during the ensuing fiscal
year, detailed by City agency and position, in terms of work programs,
and the method of financing such expenditures;
2. Proposed capital expenditures during the ensuing fiscal year, detailed
by City agency, and the proposed method of financing each such capital
expenditure;
3. The relationship of each proposed capital expenditure to the capital improvement program required to be submitted under Section
5-10; and
4. Estimated surplus revenue and free cash at the end of the current
fiscal year, including estimated balances in any special accounts
established for specific purposes.
The City Council shall annually provide for an outside audit
of the books and accounts of the City to be made by a certified public
accountant, or a firm of certified public accountants, who have no
personal interest, direct or indirect, in the fiscal affairs of the
City or any of its officers. The Mayor shall annually provide to the
City Council a sum of money sufficient to satisfy the estimated cost
of conducting the audit as presented to the Mayor, in writing, by
the City Council. The award of a contract to audit shall be made by
the City Council, on or before September 15th of each year. The City
Council shall coordinate the work of the individual or firm selected
with the municipal officials. The report of the audit shall be filed
in final form with the City Council not later than March first in
the year following its award.