(A) The fiscal year of the Downtown Development Authority shall begin on July 1 of each year and end on June 30 of the following year, or such other fiscal year as may be adopted by the city.
(B) The Authority shall annually prepare a budget by February 15 and shall submit it to the City Manager for submission to the Council. The Board shall not finally adopt a budget for any fiscal year until the budget has been approved by the Council.
(1993 Code, § 22-31)