[Amended and adopted 11-3-1992]
The fiscal year of the City of Royal Oak shall commence on the first day of July in each year.
[Amended and adopted 11-4-1930]
Accounts shall be kept by the Director of Finance showing the financial transactions of the City. The Director of Finance shall prescribe forms, subject to the approval of the Commission, for keeping such accounts and such forms shall be adequate to record all cash receipts as reported by the Treasurer; all cash disbursements, all revenue accrued and liabilities incurred, and all transactions affecting the acquisition, custody, and disposition of all property belonging to the City, and make such reports of the financial transactions and conditions of the City as may be required by law, ordinance, or resolution. Adequate cost records shall be kept in all departments of the City; also a complete financial record of all property of the City and the cost and value thereof.
[Amended and adopted 4-4-1949]
Payments by the City shall be made only upon vouchers certified by the head of the appropriate department or division of the City government by means of draft, check, order, or warrant, duly approved by the Commission and signed by the Director of Finance, and countersigned by the Treasurer. The Director of Finance shall be responsible for the disbursing of City funds, and shall examine all payrolls, bills, and other claims and demands against the City, except claims for unliquidated damages, and shall issue no warrant unless he or she finds that the claim is in proper form, correctly computed, and duly certified; that it is justly and legally due and payable and that payment has been authorized by the Commission; that an appropriation has been made therefor which has not been exhausted, or that the payment has been otherwise legally authorized; and that there is money in the City Treasury to make payment. He or she may investigate any claim, and for such purposes, may examine witnesses under oath. If he or she finds such bill, claim, or demand is fraudulent, erroneous, or otherwise invalid, he or she shall report such finding to the Commission and shall not issue a warrant therefor.
[Amended and adopted 4-4-1930]
All taxes, special assessments, and license fees, accruing to the City, shall be collected by the City Treasurer. All money received by any officer or employees of the City for or in connection with the business of the City shall be paid promptly in to the City Treasurer, and shall be deposited with such responsible banking institutions within the City designated by the Commission, furnishing such security as the Commission may desire and paying the highest rate of interest, and all such interest shall accrue to the benefit of the City. The Commission shall provide by ordinance for the prompt and regular payment and deposit of all City moneys as required by this section. The Sinking Fund shall be kept separate from other City funds. All fees received by any officer or employee shall belong to the City.
The revenues raised by general taxation upon all the property in the City, or by loan to be repaid by such tax, shall be divided into such and so many funds as the Commission may by ordinance or resolution determine.
Not later than 30 days before the end of each fiscal year the Manager shall prepare and submit to the Commission an annual budget for the ensuing fiscal year, based upon detailed estimates furnished by the several departments and other divisions of the City government, according to a classification as nearly uniform as possible. The budget shall present the following information:
(a) 
An itemized statement of the appropriation recommended by the Manager for current expenses and for permanent improvements for each department and each division thereof, for the ensuing fiscal year, with comparative statement, in parallel columns, of the appropriation and expenditures for the current and next preceding fiscal year and the increases and decreases in the appropriation recommended;
(b) 
An itemized statement of the taxes required and of the estimated revenue of the City, from all other sources, for the ensuing fiscal year, with comparative statements in parallel columns of the taxes and revenues for the current and next preceding fiscal year, and of the increases and decreases estimated or proposed;
(c) 
A statement of the financial condition of the City and an inventory of all property owned by the City; and
(d) 
Such other information as may be required by the Commission.
The Commission shall, by resolution, levy such taxes each year as may be necessary to meet the appropriations made (less the estimate of the amount of revenue from other sources) and all sums required by law to be raised on account of City debt, together with such addition, not exceeding 10% of the amount of the budget, as may be necessary to meet commissions, fees, and abatements in amount of taxes collected from the estimate, subject in each case to the laws of the State of Michigan.
The Commission shall have authority within the limits herein prescribed to raise annually by taxation such sums of money as may be necessary to defray the expenses and pay the liabilities of the City and to carry into effect the powers in this Charter granted.
All sums ordered in the annual appropriation bill in any year, to be raised for the several general funds, shall forthwith be certified by the Clerk to the Assessor and shall be levied and collected upon the assessed valuation of all taxable property within the City.
All taxes, charges, and penalties, other than special assessments, ordered to be spread on each annual tax roll, shall become a lien upon the property assessed on and after the first day of July in each year.
(a) 
The total amount of general ad valorem taxes imposed upon real and tangible personal property in the City in any one year, for the purpose of defraying the general expenses and liabilities of the City, exclusive of levies necessary for payment of principal and interest on any bonded indebtedness of the City, shall not exceed 11 mills on each dollar of the assessed valuation of such property, except as otherwise permitted by law or by this Charter.
(b) 
In addition to the amount set forth in Subsection (a) above, the City may, for the sole purpose of defraying the general expenses and liabilities of the City for refuse collection, disposal and for a curbside recycling program, raise by a general tax upon the assessed value of all real estate and personal property in the City, a millage for a period not to exceed five years up to 1.00 mill, said tax to be assessed and spread beginning on the first day of July, 2022, pursuant to the provisions of Chapter Eleven of this Charter.
[Amended and adopted 8-2-2016; 11-2-2021]
(c) 
In addition to the amount set forth in Subsections (a) and (b) above, the City may, for the sole purpose of defraying the general expenses and liabilities of the City for police, fire and emergency medical services, raise by a general tax upon the assessed value of all real estate and personal property in the City, a millage for a period of not to exceed five years up to 3.975 mills, said tax to be assessed and spread beginning on the first day of December 2022, pursuant to the provisions of Chapter Eleven of this Charter.
[Amended and adopted 11-8-2016; 11-2-2021]
(d) 
In addition to the amount set forth in Subsections (a), (b) and (c) above, the City may, for the sole purpose of defraying the general expenses and liabilities of the City for maintaining, repairing and reconstructing roads and right-of-ways, raise by a general tax upon the assessed value of all real estate and personal property in the City, a millage of up to 2.5 mills for a period of not to exceed 10 years, said tax to be assessed and spread beginning on the first day of December, 2024, pursuant to the provisions of Chapter Eleven of this Charter.
[Amended and adopted 4-1-1957; 7-22-1975; 8-7-1990; 8-4-1992; 8-6-1996; 11-6-2001; 8-8-2006; 11-8-2011; 11-6-2012; 11-4-2014; 7-11-2022; 11-7-2023]
(e) 
In addition to the amount set forth in Subsections (a), (b), (c) and (d) above, the City may, for the sole purpose of defraying the general expenses and liabilities of the City for parks, forestry, recreation and playgrounds including animal shelter purposes raise by a general tax upon the assessed value of all real estate and personal property in the City, a millage of up to 0.7 mills for a period of not to exceed 5 years, said tax to be assessed and spread beginning on the first day of December, 2022, pursuant to the provisions of Chapter Eleven of this Charter.
[Amended and adopted 7-11-2022]
In addition to the above amounts, the Commission may raise, by special assessment, in a special assessment district, such sums as they deem necessary, for the purpose of grading, curbing, paving, graveling, and otherwise improving the streets and alleys, and for constructing sidewalks, sewers, and drains, and making other improvements chargeable upon the land and property in the district, according to frontage or benefits, and for all other purposes for which special assessment funds are constituted.
Money may be borrowed in anticipation of the receipts from taxes during any fiscal year, by the issue of notes or certificates of indebtedness, but the aggregate amount of such loans at any time outstanding shall not exceed 25% of the receipts from taxes during the preceding fiscal year; and all such loans shall be paid out of the receipts from taxes for the fiscal year in which they are issued, except in cases of special assessment.
No public work or improvement shall be commenced or expenditure made, nor any contract therefor be let or made (excepting as herein otherwise provided) until an appropriation has been made therefor or a special assessment shall have been levied to pay the cost and expenses thereof. No such work or improvement shall be paid for, or contracted to be paid for, except from the proceeds of such appropriation or special assessment or from the proceeds of bonds or other obligations issued in anticipation of the collection of such appropriation or special assessment.