The fiscal year of the City government shall begin on the first
day of May and shall end on the last day of April of each calendar
year.
Editor’s note–The current fiscal year of the city is established in section 1.07.001 of the Code of Ordinances.
The City Manager shall, at least 60 days prior to the beginning
of each budget year, submit to the City Commission a proposed budget,
setting out the estimated income from each department and the estimated
expense of each department, including the estimate necessary for the
interest and sinking fund on all bonds.
The proposed budget shall be filed with the City Clerk and subject
to inspection by the public. At the meeting of the City Commission
at which the budget is to be submitted, the City Clerk shall cause
to be published a notice of the place and time in less than seven
days prior to such meeting, at which the Commission will hold a public
hearing on said budget.
The budget shall be adopted by a majority vote of all members
of the City Commission.
From the effective date of the budget, the several amounts stated
therein as proposed expenditures shall be and become appropriated
to the object and purpose therein named. The amount stated in the
budget as the amount to be raised by property tax shall constitute
a determination of the amount of the levy for the purposes of the
city in the corresponding tax year.
The budget shall provide a complete financial plan for the fiscal
year. It shall contain the following:
(1)
A consolidated
statement of receipts and expenditures for all funds.
(2)
An analysis
of property valuations.
(3)
An analysis
of tax rate.
(4)
Tax levies
and tax collections by years for at least three years or for a number
of years for which records are available.
(5)
General
fund resources in detail.
(6)
Summary
of proposed expenditures by function, department, and activity.
(7)
Summary
of proposed expenditures by character and object.
(8)
Detailed
estimates of expenditures shown separately for each activity to support
the summaries No. 6 and 7 above. Such estimates of expenditures are
to include an itemization of positions showing the number of persons
having each title and the rate of pay.
(9)
A revenue
and expense statement for all types of bonds.
(10)
A description
of all bond issues outstanding, showing rate of interest, date of
issue, maturity date, amount authorized, amount issued and amount
outstanding.
(11)
A schedule
of requirements for the principal and interest on each issue of bonds.
(12)
A special
funds section.
(13)
The appropriation
ordinance.
(14)
The tax
levying ordinance.
The total estimated expenditures of the general fund and debt
service fund shall not exceed the total estimated resources of each
fund (prospective income plus cash on hand). The classification of
revenue and expenditure accounts shall conform as nearly as local
conditions will permit to the uniform classification as promulgated
by the National Committee on Municipal Accounting or some other nationally
accepted classification.
