The fiscal year of the City of DeSoto shall begin on October
1st of each calendar year and will end on September 30th of the following
calendar year. The fiscal year will also be established as the accounting
and budget year. All funds collected by the City during any fiscal
year including both current and delinquent revenue shall belong to
such fiscal year and, except funds derived to pay interest and create
a sinking fund on the bonded indebtedness of the City, may be applied
to the payment of the expenses incurred during such fiscal year. Any
revenues uncollected at the end of any fiscal year, and any unencumbered
funds actually on hand, shall become resources of the next succeeding
fiscal year.
The City Manager, prior to August 1st of each year, shall prepare
and submit the budget, covering the next fiscal year, to the Council,
which shall contain the following information:
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The City Manager's budget message shall outline the proposed
financial policies for the next year with explanations of any change
from previous years in expenditures and any major changes of policy
and complete statement regarding the financial conditions of the City.
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An estimate of all revenue from taxes and other sources, including
the present tax structure rates and property evaluation for the ensuing
year.
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A carefully itemized list of proposed expenses by office and
department, including a list of capital projects, as compared to actual
expenses of the last ended fiscal year and the present year to date.
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A description of all outstanding bond indebtedness, showing
amount, purchaser, date of issue, rate of interest, and maturity date,
as well as any other indebtedness which the City had incurred and
which has not been paid.
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A statement proposing any capital expenditures deemed necessary
for undertaking during the next budget year and recommended provisions
for financing.
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A projected list of capital projects which should be undertaken
within the five (5) next succeeding years.
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All funds, without exception, are to be included in the budget
document; and
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In preparing the budget, each employee, officer, board and department
shall assist the City Manager by furnishing all necessary information.
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(Ordinance 2324-23 adopted 7/18/2023)
The budget and all supporting schedules shall be filed with
the City Secretary when submitted to the Council and shall be open
to public.
(Ordinance 2324-23 adopted 7/18/2023)
At the Council meeting at which time the budget is submitted
the Council shall name the date and place of a public hearing for
a date occurring after the 15th day after the date the proposed budget
is filed with the municipal clerk but before the date the governing
body makes its tax levy, and shall cause to be published in the official
newspaper of the City the time and place in accordance with state
law. At this hearing, interested citizens may express their opinions
concerning items of expenditure and revenue.
(Ordinance 2324-23 adopted 7/18/2023)
After public hearing the Council shall analyze the budget, making
any additions or deletions which they feel appropriate, and shall
adopt the budget by a majority vote of all members of the Council
unless state law provides otherwise.
(Ordinance 2324-23 adopted 7/18/2023)
On final adoption, the budget shall be in effect for the budget
year. Final adoption of the budget by the Council shall constitute
the official appropriation as proposed expenditures for the current
year and shall constitute the basis of the official levy of the property
tax as the amount of tax to be assessed and collected for the corresponding
tax year. Estimated expenditures will in no case exceed proposed revenue
plus cash on hand. Unused appropriations may be transferred to any
item required for the same general purpose.
The City Manager may recommend for action by the Council, an
unallocated reserve fund to be used for unexpected items of expense
which were not contained as original items of expenditures.
Payments and obligations prohibited. No
payment shall be made or obligations incurred against any allotment
or appropriation except in accordance with appropriations duly made
in the budget unless the City Manager or his designee first certifies
that there is a sufficient unencumbered balance in such allotment
or appropriation and that sufficient funds therefrom are or will be
available to cover the claim or meet the obligation when it becomes
due and payable.
Notwithstanding anything above, there shall be no transfer of
budgeted funds or monies from one department to another department
without prior Council approval.
The City Manager shall submit to the Council each month a report
of the financial condition of the City in a format and containing
such information as the Council may require. The financial records
of the City will be maintained on an accrual basis to support this
type of financial management. The City Manager shall make available
to the City Council monthly a cash disbursements journal of the City
of all funds and accounts.
(Ordinance 2324-23 adopted 7/18/2023)
Expenditures to meet unusual and unforeseen conditions, which
were not included in the original budget, may from time to time be
authorized as amendments to the original budget. Any amendment providing
for additional expenditure shall also provide for reductions in other
expenditures or supplemental revenues to fund such amendments, or
an amount from the unallocated fund balance as a supplement. Amendments
shall be approved by ordinance prior to the expenditure of funds,
except in the case of emergencies. In the case of emergencies, the
City Manager shall notify the City Council of the emergency and shall
ratify the amendment as soon as is reasonably allowed.
(Ordinance 2324-23 adopted 7/18/2023)
A copy of the budget, as finally adopted, shall be filed with
the City Secretary and such other places as required by state law.
Copies of the final budget shall be made available for the use of
all offices, agencies and for the use of interested persons and civic
organizations.
(Ordinance 2324-23 adopted 7/18/2023)
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.
At the close of each fiscal year, and at such other times as
it may be deemed necessary, the Council shall direct that an independent
audit be made of all accounts of the City in accordance with applicable
auditing standards by a Certified Public Accountant or firm of such
accountants who shall have no personal interest, directly or indirectly,
in the financial affairs of the City or any of its officers and shall
report directly to the City Council. The Certified Public Accountant
or firm of accountants selected to prepare the audit shall be limited
to providing such services for not more than five (5) consecutive
fiscal years, and shall not again thereafter be eligible for selection
until at least one fiscal year has elapsed since the proceeding such
services were performed by such Certified Public Accountant or firm
of accountants.
The annual audit, including all reports and management letters,
shall be submitted and reported to the Council. A copy of the annual
audit, after acceptance by the Council, will be filed with the City
Secretary and shall be available for public inspection.
(Ordinance 2324-23 adopted 7/18/2023)
The City shall comply with state law regarding purchasing and
contracting of municipalities including provisions relating to notice
of contracts, advertisements for notice, requirements for taking sealed
bids or proposals on specifications for public improvements or purchases,
the manner of opening bids and the award of contracts.
(Ordinance 2324-23 adopted 7/18/2023)