The fiscal year of the City shall begin on the first (1st) day of October and shall end on the last day of September of the succeeding calendar year. Such fiscal year shall also constitute the budget and accounting year. As used in this Charter, the term “budget year” shall mean the fiscal year for which any particular budget is adopted and in which it is administered.
The City Manager shall, at least sixty (60) days prior to the beginning of each budget year, submit to the Council a proposed budget and an explanatory budget message in the form, and with the contents provided by Section 9.11, 9.12, and 9.13. For such purpose, at such date as he or she shall determine, he or she, or an officer designated by he or she shall obtain from the head of each office, department, or agency estimates of revenue and expenditure of that office department or agency detailed by organization units and character and object of expenditure and such other supporting data as he or she may request. In preparing the budget, the City Manager shall review the estimates, shall hold hearing thereon, and may revise the estimates, as he or she may deem advisable.
The proposed budget and accompanying message and all supporting schedules shall be a public record in the office of the City Secretary open to public inspection during normal office hours. The City Manager shall have sufficient copies of the proposed budget and accompanying message prepared for distribution to interested persons.
The Council shall post in the City hall and publish in the official newspaper a general summary of the proposed budget, as revised, and a notice stating:
At the time and place so advertised, or at any time and place to which such public hearing shall from time to time be adjourned, the Council shall hold a public hearing on the proposed budget as revised, at which all interested persons shall be given an opportunity to be heard, for or against, the estimates of any item thereof.
After the public hearing, the Council may adopt the budget with or without amendment. In amending the budget, it may add or increase programs or amounts and my 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 its annual budget by ordinance, on one reading, by the fifteenth (15th) day of September, or as soon thereafter as practical. Adoption of the budget shall require an affirmative vote of at least a majority of all members of the Council. Adoption of the budget shall constitute appropriations of the amounts specified therein as expenditures from the funds indicated. Should the Council take no final action on or prior to the twenty-seventh (27th) day of September, the budget as submitted by the City Manager shall be deemed to have been adopted by the Council.
Upon final adoption, the budget shall be in effect for the budget year. A copy of the budget as adopted, shall be filed with the City Secretary and the County Clerk of Cass County. The City Secretary shall reproduce sufficient copies for the use of all offices, departments, agencies, and for interested persons and civic organizations.
From the effective date of the budget, the amount stated in the budget as the amount to be raised by property tax shall be the amount of the property tax levy for the corresponding tax year.
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 reasons for such changes. It shall also summarize the City’s debt position and include such other material as the City Manager deems desirable.
The budget shall provide a complete financial plan for the fiscal year. It shall contain the following:
(a)
A budget message.
(b)
A consolidated statement of receipts and expenditures of all funds.
(c)
An analysis of property valuations.
(d)
An analysis of tax rate.
(e)
Tax levies and tax collections by years for the preceding five (5) years.
(f)
General fund resources and all other fund resources in detail.
(g)
Summary of proposed expenditures by function, department, and activity.
(h)
Summary of proposed expenditures by character and object.
(i)
Detailed estimates of expenditures shown separately for each activity to support the summaries mentioned in (g) and (h) 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.
(j)
A revenue and expense statement for all type of bonds.
(k)
A description of all bond issues outstanding, showing rate of interest, date of issue, maturity date, call date, if any, amount authorized, amount issued and amount outstanding.
(l)
A schedule of requirements for the principal and interest on each issue of bonds.
(m)
A special funds section.
(n)
The appropriation ordinance.
The total estimated expenditures of each 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.
In parallel columns opposite the several items of revenue there shall be placed the actual amount of such item for the last completed fiscal year, the estimated amount for the current fiscal year, and the proposed amount for the ensuing budget year.
The proposed expenditures for the administration, operation, maintenance and capital outlay of each office, department, or agency of the City shall be itemized by character and object. In parallel columns opposite the various items of expenditures, there shall be placed the actual amount of such items of expenditures for the last completed fiscal year, the estimated amount for the current fiscal year, and proposed amount for the ensuing budget year.
To meet a public emergency affecting life, health, property, or the public peace, the Council may make emergency appropriations, Such appropriations may be made by emergency ordinance in accordance with the provisions of Section 2.11. To the extent that there are no available unappropriated revenues to meet such appropriations, the Council may by such emergency ordinance authorize the issuance of emergency notes or time warrants at the lowest rate of interest obtainable, as determined by the City Manager with the approval of the Council, which may be renewed from time to time, but the emergency notes and renewals, of any fiscal year shall be paid not later than the last day of the current fiscal year.
If at any time during the fiscal year it appears probable to the City Manager that the revenues available will be insufficient to meet the amount appropriated, he or she shall report to the Council without delay indicating the estimated amount of the deficit, remedial action already taken, and any recommendations as to other steps to be taken The Council shall then take such further action as it deems necessary to prevent or minimize any deficit and for that purpose it may by ordinance reduce one (1) or more appropriations.