Not later than thirty-five (35) days before the beginning of
each fiscal year, the City Manager shall submit to the Council a budget
for the ensuing year. The budget shall provide a complete financial
plan for the fiscal year and shall be prepared in accordance with
accepted standards of municipal budgeting and in compliance with such
requirements as the Council may provide. The budget shall be a public
record open to inspection in the office of the Director of Finance.
At the meeting of the Council at which the budget is submitted,
the Council shall fix the time and place for a public hearing thereon.
The City Clerk shall immediately provide by advertisement in a newspaper
of general circulation in the City, and by such other means as may
be directed by the Council, for general notice to the public of said
hearing. Such advertisement shall include a summary, prepared by the
Director of Finance, of the proposed budget.
The budget shall be adopted by a favorable vote of the majority
of the members of the Council not later than the fourth (4th) day
prior to the commencement of the fiscal year. Should the Council fail
to take action by this date, the budget as submitted, shall be deemed
to have been finally adopted.
[Ord. No. 2785 §1, 1-28-1986]
The Council shall pass the necessary tax levy ordinance promptly
after the budget is finally adopted. Should the Council fail to act,
the tax rate previously fixed shall be the rate for the budget year.
A copy of the budget, as finally adopted, shall be certified
by the City Clerk and filed in the office of the Director of Finance.
Copies shall be made available for the use of all City departments
and offices, and for interested citizens and others.
From the effective date of the budget, the several amounts stated
therein as proposed expenditures shall be and become appropriated
to the various departments and offices for the objects and purposes
specified.
[As amended, November 8, 1960]
The City Manager shall control the rate at which all appropriations
are expended during the budget year.
The City Manager may transfer any unencumbered appropriation
balance or portion thereof from one classification of expenditure
to another within a department or office. Within the last three (3)
months of a fiscal year, the Council, at the request of the City Manager,
may by resolution, transfer any unencumbered appropriation balance
or portion thereof from one department to another. All appropriations
shall lapse at the end of the budget year to the extent that they
shall not have been expended or lawfully encumbered.
At any time during the budget year, the Council may, upon recommendation
of the City Manager, make emergency appropriations to meet a pressing
need for public expenditure to protect the public health, safety or
welfare. Such appropriations shall be by resolution adopted by the
favorable vote of at least five (5) of the members of the Council.
The total amount of all emergency appropriations made in any budget
year shall not exceed five percent (5%) of the total operating appropriations
made in the budget for that year.
The fiscal year of the City shall, unless otherwise provided
by ordinance, begin the first (1st) day of July and end on the last
day of June of each year. Such fiscal year shall also constitute the
budget and accounting year.
An independent audit of all accounts and other evidences of
financial transactions of the City Government shall be made at the
close of each fiscal year, and at such other times as the Council
may deem necessary, by a Certified Public Accountant selected by the
Council.
The City may issue its negotiable bonds in evidence of indebtedness
incurred for any purpose which may be authorized in this Charter,
and for any purpose for which any City is authorized to incur indebtedness
under the Constitution and laws of the State. If, under the Constitution
and laws of the State, an election is required to authorize the issuance
of any bonds, the number of votes required for approval shall be as
therein specified. Notice of such elections shall be given and such
elections held, conducted and the returns made, canvassed and declared
in the manner provided by ordinance consistent with the Constitution
and laws of the State.
All bonds shall be sold at public sale upon sealed proposals.
At least fifteen (15) days prior to the date of sale, the Director
of Finance shall give notice by direct mail and by such other advertising
as the Council may direct to all parties and financial institutions
which, in his opinion, may be interested in the purchase of such bonds.
