The fiscal year of the City shall begin on the first day of October and end the last day of September of each calendar year. Such fiscal year shall also constitute the Budget and Accounting year.
Operating Budget The operating budget shall provide a complete financial plan of all City Funds and activities and, except as required by law or this Charter, shall be in such form as the City Manager deems desirable or the Council may require. A budget message explaining the budget both in fiscal terms and in terms of the work programs shall be submitted with the budget. 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 year in financial policies, expenditures, and revenues, with reason for such changes. It shall also summarize the City’s debt position and include such other material as the City Manager deems advisable. The budget shall begin with a clear, general summary of its contents, shall show in detail all estimated income, indicating the proposed property tax levy, property value to which it is to be applied, and all proposed expenditures, including debt service, for the ensuing fiscal year. The proposed budget expenditures shall not exceed the total of estimated income and unencumbered funds from previous years. The budget message shall be so arranged as to show comparative figures of the prior year, actual and estimated income, and expenditures of the current fiscal year, all compared to the estimate of the budgeted year. It shall include in separate sections:
(a) 
An itemized estimate of the expense of conducting each department division and office;
(b) 
Reasons for proposed increases or decreases of such items of expenditure compared with the current and prior fiscal year;
(c) 
A separate schedule for each department, indicating tasks to be accomplished by the department during the year, and additional desirable tasks to be accomplished if possible;
(d) 
A statement of the total probable income of the City from taxes for the period covered by the estimate;
(e) 
Tax levies, rates, property values, and collections for the preceding five (5) years;
(f) 
An itemization of all anticipated revenue from sources other than the tax levy;
(g) 
The amount required for interest on the City’s debts, for sinking fund and for maturing serial bonds;
(h) 
The total amount of outstanding City debt with a schedule of maturities on bond issues;
(i) 
Anticipated net surplus or deficit for the ensuing fiscal year of each utility owned or operated by the City and the proposed method of its disposition; subsidiary budgets for each utility giving detailed income and expenditure information shall be attached as appendices to the budget;
(j) 
Such other information as may be required by the Council or deemed desirable by the City Manager.
A five (5) year Capital Facilities and Property budget which may be revised and extended each year to indicate capital improvements pending or in process of construction or acquisition, shall provide the following items:
(a) 
A summary of proposed programs;
(b) 
A list of all capital facilities and property improvements which are proposed to be undertaken during the five (5) fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements;
(c) 
Cost estimates, method of financing and recommended time schedules for each such improvement with the estimated effect on the tax levy and;
(d) 
The estimated annual cost of operating and maintaining the facilities to be constructed or acquired over the five (5) year period.
The City Manager shall submit to the Council a proposed budget and accompanying message on or before the first day of August of each year. The Council shall review the proposed budget and revise it as deemed appropriate prior to general circulation for public hearing.
The Council shall post in the City Hall and publish in the official newspaper as required by State law prior to any required public hearing on the budget a notice stating the time and place where copies of the message and budget are available for inspection by the public, and the time and place of each public hearing on the budget. The Council shall adopt the budget by ordinance.
The Council may adopt the budget with or without amendment at a regular or special meeting. In amending the budget, it may add or increase any programs or amounts and may delete or decrease any programs or amounts, except expenditures required by law or for debt service or for estimated cash deficit, provided that no amendment to the budget shall increase the authorized expenditures to an amount greater than the total of estimated income plus funds available from prior years.
The Council shall adopt the budget by ordinance not later than the 30th day of September. Adoption of the budget will require an affirmative vote in accordance with Section 2.12. Adoption of the budget shall constitute appropriations of the amount specified therein as expenditures from the fund indicated, and shall constitute a levy of the property tax therein proposed.
Errors or defects in the form or preparation of the budget or the failure to perform any procedural requirements shall not nullify the tax levy or the tax rate.
If the Council fails to adopt the budget by the 15th day of September, the amounts appropriated for the current fiscal year shall be deemed adopted for the ensuing fiscal year on a month to month basis with all items in it pro-rated accordingly until such time as the Council adopts a budget for the ensuing fiscal year. The levy of property tax normally approved as a part of the budget adoption will be set to equal the total current fiscal year receipts, unless the ensuing fiscal year budget is approved by September 30th of the current fiscal year.
Copies of the approved operation budget, capital facilities and property budget and supporting papers shall be filed with the City Secretary and shall be public records available to the public upon request.
Specified reserve funds may be created for specific purposes, and may be used only for such purposes.