Prior to the commencement of each fiscal year, a budget for
the City shall be prepared, and the same will be presented to and
approved by the City Council. The approved budget shall be on file
in the Finance Department.
A.
The annual budget shall present a complete financial plan for the
next fiscal year. The following shall be included in the budget:
1.
A budget message from the City Manager shall describe the important
features of the budget and to point out any major changes from the
previous year.
2.
An estimate of revenues which are expected to be received during
the next year from all sources, plus a comparative statement of revenues
for the previous two (2) budget years. These comparisons shall be
shown by year, fund, and source.
3.
An estimate of the expenditures that are proposed to be spent
during the budget year, plus a comparative statement of actual expenditures
for the previous two (2) years. These comparisons should be shown
by year, fund, activity and object.
4.
The amount of money required to pay any interest, amortization,
or redemption charges which the City will owe during the budget year.
5.
A general summary of the total proposed budget.
Expenditure estimates in the budget shall not be larger in amount
than the total anticipated revenue plus available fund balance for
the budget year.
The City shall not incur any debts which aggregate an amount
greater than the anticipated revenues for the budget year, without
the approval of the voters of the City, as required by law.
