The fiscal year of the City shall begin on the first day of
July and shall end on the last day of June, unless another period
is required by general law.
Within the time fixed by law, before the start of the fiscal
year of the City, the Mayor shall submit to the City Council a proposed
operating budget for the ensuing fiscal year with an accompanying
budget message and supporting documents. The Mayor shall simultaneously
provide for the publication in a local newspaper of a notice and a
general summary of the proposed budget. The summary shall specifically
indicate any major variations from the current operating budget and
the reason for such changes. The notice shall further indicate the
times and places at which complete copies of the proposed operating
budget for the City are available for examination by the public.
The budget message of the Mayor shall explain the budget for
all City agencies both in fiscal terms and in terms of work programs.
It shall outline proposed financial policies of the City for the ensuing
fiscal year, describe important features of the budget, indicate any
major variations from the current fiscal year in financial policies,
expenditures and revenues together with the reasons for such changes,
summarize the City's debt position and include other material as the
Mayor deems desirable, or as may be required by the provisions of
a City ordinance.
The proposed operating budget shall provide a complete financial
plan for all City funds and City activities for the ensuing fiscal
year. Except as may otherwise be required by general law, or this
Charter, it shall be in the form which the Mayor deems desirable or
as a City ordinance may require. In the presentation of the budget,
the Mayor shall utilize modern concepts of fiscal presentation so
as to furnish an optimum level of information and the best financial
control. The budget shall show in detail all estimated income from
the proposed property tax levy and from all other sources and all
proposed expenditures, including debt service, for the following year.
The budget shall be arranged to show the actual and estimated income
and expenditures for the previous, current and ensuing fiscal years
and shall indicate in separate sections:
(a)Â Proposed expenditures for current operations during the ensuing fiscal
year, detailed by City agency and position in terms of work programs,
and the method of financing such expenditures;
(b)Â Proposed capital expenditures during the ensuing fiscal year, detailed
by City agency, and the proposed method of financing each such capital
expenditure;
(c)Â The relationship of each proposed capital expenditure to the capital improvement program required to be submitted under Section
6-8; and
(d)Â Estimated surplus revenue and free cash at the end of the current
fiscal year, including estimated balances in any special accounts
established for specific purposes.
The Mayor shall submit a capital improvement program to the
City Council at least 150 days before the start of each fiscal year.
It shall include:
(a)Â A clear and concise general summary of its contents;
(b)Â A list of all capital improvements proposed to be undertaken during
the next ensuing five years, with supporting information as to the
need for each capital improvement;
(c)Â Cost estimates, methods of financing and recommended time schedules
for each improvement; and
(d)Â The estimated annual cost of operating and maintaining each facility
and piece of major equipment involved.
This information is to be annually revised by the Mayor with
regard to the capital improvements still pending or in the process
of being acquired, improved or constructed.
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The City Council shall annually provide for an outside audit
of the books and accounts of the City to be made by a certified public
accountant, or firm of such accountants.