(A) The Mayor shall submit on a quarterly basis summary financial and management status reports of all operating funds to the City Council. These reports shall include:
(1) Current annual revenue estimates for each fund;
(2) Brief analysis explaining revenue trends for each fund;
(3) A midyear programmatic review of each program and department and the progress made year- to-date in achieving its goals and objectives.
(B) Reports shall be received by the Council on a timely basis according to the following schedule:
(1) The preliminary year-end report shall be received for introduction at the first City Council meeting in October following the close of the fiscal year;
(2) The final year-end report shall be received for introduction at the first City Council meeting in December;
(3) The midyear report shall be received for introduction at the first City Council meeting in February. The midyear report shall be accompanied by a midyear appropriation resolution for those programs that are projected to be overspent and which the Mayor determines that expenditure controls cannot bring the programs within the limits of administration expenditure authority as defined by §§ 2-7-1-1 et seq., the Administrative Code. Mid-year appropriation adjustments shall be proposed only when caused by unexpected circumstances such as a natural disaster, unforeseen shifts in the national economy, and other events that constitute an emergency. Except as otherwise provided, the Mayor and Council shall confine budget adjustments to the midyear resolution. The midyear report and midyear appropriation resolution shall be reviewed by the City Council at a minimum of one public hearing by a Committee of the Whole.
('74 Code, § 1-8-16) (Ord. 70-1977; Am. Ord. 18-1981; Am. Ord. 51-1990; Am. Ord. 3-1992; Am. Ord. 35-1994; Am. Ord. 40-1995; Am. Ord. 16-2001; Am. Ord. 1-2005; Am. Ord. 45-2006; Am. Ord. 30-2010)