The finances of the Municipality shall always be conducted upon the budget system. The City Manager, with the assistance of the Director of Finance, shall furnish to Council at such time prior to the fifteenth (15th) day of June of each year (or at such other date at least thirty days prior to such date as may from time to time be fixed by general law for the certifying of the budget of the Municipality to the Budget Commissioners of the County or other similar officials having charge of taxation matters), as may be required by Council, an annual budget setting forth in itemized form an estimate stating the amount of money needed for the various departments in the Municipality, and for each month thereof. Such annual budget shall set forth specifically such items as may be required by general law or by ordinance of Council, and Council shall thereupon and within such time as may be prescribed by general law approve or revise such budget and submit the same to the County Budget Commissioners or similar officials. On or before the first (1st) day of February the City Manager shall submit to the Council an estimate of the expenditures and revenues of the Municipal departments for the year. This estimate shall be compiled from the detailed information obtained from the several departments, on uniform blanks to be furnished by the City Manager and approved by Council and the Director of Finance shall assist the City Manager in the preparation of such information. Such information shall be furnished in detail for each department, and in such form as Council may from time to time require; and shall contain the recommendations of the City Manager as to the amounts to be appropriated, with the reasons therefor, in such detail as Council may require.