ARTICLE VII. FISCAL ADMINISTRATION
The Council of the City of Eureka shall annually fix the rate of taxation to be levied, and levy the taxes upon all property, both real and personal, in the city, necessary to raise sufficient revenue to carry on the various departments of the Municipal Government for the current fiscal year; provided, that the rate of taxation so levied shall not exceed in any year One and 50/100 Dollar for each One Hundred Dollars upon the assessed value thereof, except for the payments of principal and interest of the bonded debt of the city, if any; and provided further, that in addition to said One and 50/100 Dollar rate, the Council may levy a tax of not more than Ten Cents for each One Hundred Dollars upon the assessed value thereof, to be used for recreational purposes only.
The Council shall, before fixing the rate of annual city tax, establish by ordinance separate funds representing the several funded obligations of the city, if any, and of the several departments requiring municipal expenditures, including a General Fund, and the percentage of said levy shall be named for each fund, and the whole amount of taxes and revenue of the city apportioned accordingly; and no transfers shall be made except of balances in excess, or from the General Fund to meet deficiencies, or to provide for the redemption of city bonds, if any.
At least 45 days prior to the beginning of each fiscal year, the City Manager shall submit to the Council a budget of proposed expenditures and estimated revenues, accompanied by an explanatory budget message. For such purpose, the City Manager, on such schedule and under such terms as may be prescribed by the City Manager, shall obtain from the head of each department or other agency of the city their estimates of revenue and expenditure in such detail and with such supporting plans and data as the City Manager may require. The City Manager may revise such estimates in any manner the City Manager deems advisable. The explanatory budget message of the City Manager to the Council shall explain the budget, shall outline the proposed financial policies of the city for the ensuing fiscal year, shall propose priorities for capital expenditures, and shall describe the important features of the budget plan. It shall state the reasons for salient changes from the previous year in cost and revenue items, and shall explain any major changes in financial policy. The budget shall be submitted in such form as to enable the Council to compare the prior and current years' revenue and expenditures to which such proposed revenues and expenditures relate. Estimates of revenue shall include surpluses to be carried over from the current year, plus current revenues from all sources.
(Amended by election November 2, 2010)
After submission of the budget by the City Manager, the Council shall review it in such detail as it deems necessary, and after a public hearing held not less than 10 days after public notice thereof, may revise the budget in any manner it finds necessary. Not later than the last day of the fiscal year the Council shall adopt a budget for the ensuing fiscal year, failing which the last fiscal year allotments shall be effective until the budget is adopted. From the effective date of the budget, the several amounts stated therein as proposed expenditures shall be and become appropriated to the several objects and purposes therein named.
At any meeting after the adoption of the budget, the Council may amend or supplement the budget by motion so as to authorize the transfer of unused balances appropriated for one department to another department, or to appropriate available funds not included in the budget; and may authorize the City Manager to transfer funds between purposes within departments.
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