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.