The fiscal year of the City shall commence on the first day of July of each year.
(Am’d. of 5-18-10)
(a) 
The Council shall by ordinance provide a system for the assessment, levy and collection of all City taxes not inconsistent with the provisions of this Charter.
(b) 
The Council shall have power to avail itself by ordinance of any law of this state, now or here-after in force, and comply with the requirements thereof whereby assessments may be made by the assessor of the county in which the City is situated and taxes collected by the tax collector of said county for and in behalf of the City. Other provisions of this Charter concerning the assessment, levy and collection of taxes shall be subject to the provisions of any such ordinance while the same shall be in force.
(Am’d. of 5-18-10)
On or before the first day of June, the department heads shall prepare and submit to the City Manager a detailed estimate by City departments of the anticipated expenditures and the anticipated receipts from all sources other than ad valorem taxes for the following fiscal year. Such estimates shall include all expenditures necessary for City operation and the interest on and retirement of outstanding indebtedness.
(Am’d. of 10-16-61; Am’d. of 5-18-10)
On or before the first day of July, the City Manager shall prepare and submit to the Council a proposed budget showing in detail the estimated amounts necessary to cover the costs of operating each department of the City for the ensuing fiscal year, the anticipated receipts from all sources other than ad valorem taxes and the estimated total tax levy necessary for City operation including interest on and retirement of outstanding indebtedness. The City Manager shall have such proposed budget published in the official newspaper of the City once each week for two consecutive weeks together with a notice setting forth the time and place for a public hearing on said budget.
(Am’d. of 5-18-10)
The Council shall, at the time and place designated in the notice of public hearing, hold a meeting and present the proposed budget to residents and taxpayers attending the meeting. Upon request of any taxpayer, the Council shall explain any item of the proposed budget and any taxpayer may speak for or against the inclusion of any item. After such hearing is concluded, the Council shall adopt the annual budget, but the total expenditures listed in the adopted budget shall not exceed estimated expenditures of the published budget.
(Am’d. of 5-18-10)
On the day set for establishing tax rates, but not later than the third Monday in August, the Council shall meet and adopt an ordinance levying upon the assessed valuation of the property within the City, subject to the provisions of this Charter, a rate of taxation upon each one hundred dollars of valuation sufficient to raise the tax levy as shown in the adopted budget.
(Am’d. of 5-18-10)
(a) 
The Council shall have the power to levy and collect taxes in addition to the taxes herein authorized to be levied and collected sufficient to pay the interest and maintain the sinking fund of the bonded indebtedness of the City, to provide for the establishment and support of free public libraries and to advertise the advantages of the City. An additional amount deemed to be advisable and necessary to create a reserve fund to provide for replacement of equipment, for the furnishing of City services and the maintenance of all municipally owned and operated utilities shall also be set aside. Any funds remaining, not used for operating expenses, may be expended as provided in the City’s adopted budget.
(b) 
The Council shall have the power to levy a transaction privilege tax (sales tax) subject to approval by a majority of the qualified electors voting in the election.
(Am’d. of 5-18-10)
All real property within the City shall be subject to taxation as provided by ordinance, except property which is exempt from taxes under the laws of the United States, the laws of this state, this Charter and ordinances of this City.
(Am’d. of 5-18-10)
From the effective date of the budget, the several amounts stated therein as proposed expenditures shall be and become appropriated to the several objects and purposes therein named and may be changed only by ordinance. The Council shall, by ordinance, provide for the method of expending the appropriations subject to the limitations of this Charter.
(Am’d. of 5-18-10)
The Council may at any time transfer any unencumbered appropriation balance or portion thereof between general classifications of expenditures within an office, department or agency or between offices, departments or agencies.
(Am’d. of 10-16-61; Am’d. of 5-18-10)
The Council shall prescribe by ordinance the manner in which claims or demands against the City shall be presented, audited and paid, including the time period in which such claims must be submitted to the City.
(Am’d. of 5-18-10)
Whenever there shall not be sufficient monies in any of the interest funds for the bonded indebtedness of the City to pay the interest on such bonded indebtedness when due, the Council shall direct the transfer to such interest funds, the necessary amounts of money to pay the interest on said bonded indebtedness from the general fund or any other fund. The amount so transferred shall be returned to the respective funds from which such transfer was made whenever sufficient monies shall accrue in said bonded indebtedness funds from the regular tax levied therefore.
(Am’d. of 5-18-10)
Prior to the end of each fiscal year, the Council shall designate an independent certified public accountant who, as of the end of the fiscal year, shall make an audit of accounts and other evidences of financial transactions of the City government and shall submit the audit report to the Council. The report shall include recommendations concerning policy and fiscal procedures to the Council. Such accountant shall have no personal interest, direct or indirect, in the fiscal affairs of the City government or of any of its officers. The accountant shall, within specifications approved by the Council, post-audit the books and documents kept by the City and any separate or subordinate accounts kept by any office, department or agency of the City.
(Am’d. of 10-16-61; Am’d. of 5-18-10)
Nothing in this article shall prevent the Council from seeking permission from the Arizona State Tax Commission to exceed the adopted budget in the event an emergency should arise.
(Am’d. of 5-18-10)