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The Tax Levy Committee composed of the Mayor, City Administrator, and a member of the Council appointed by the Council shall prepare the estimates for the annual budget.
The budget shall provide a complete financial plan for the City funds and activities, as proposed by the tax levy committee, for the ensuing fiscal year and, except as required by law or Charter, shall be in such form as the Council deems desirable and may require. It shall include a summary and show in detail the estimated income and the proposed expenditures, for the budgeted funds. The budget document shall include comparative figures for the current fiscal year, budget, and the preceding fiscal year actual income and expenditures. In addition to showing proposed expenditures for current operations, it shall show proposed capital expenditures to be made during the year and the proposed method of financing each such capital expenditure.
The budget shall also contain a recommended five (5) year capital improvement program. The capital improvement program shall include a list of all capital improvements proposed to be undertaken during the next five (5) fiscal years, with appropriate supporting information as to the necessity for such improvements; cost estimates, method of financing and recommended time schedules for each such improvement; and the estimated annual cost of operating and maintaining the facilities to be constructed or acquired. This information shall be revised and extended each year for capital improvements still pending or in progress.
(Ord. 77, Seventh Series, effective 1-26-2019)