The fiscal year of the City shall begin on the first day of January. Not later than a month before the end of each fiscal year, the City Manager shall prepare and submit to the City Commission an annual budget for the ensuing fiscal year, based upon detailed estimates furnished by the several departments and divisions of the City government, on uniform blanks to be furnished by the City Manager.
The classification of the estimate of expenditures shall be as nearly uniform as possible for the main functional division of all departments and shall present the following information:
(a) An itemized statement of the appropriations recommended by the City Manager for current expenses and for permanent improvements for each department and each division thereof for the ensuing fiscal year, with comparative statements in parallel columns, of the appropriations and expenditures for the current and next preceding fiscal year, and the increase or decrease in the appropriations recommended.
(b) An itemized statement of the taxes required and of the estimated revenues of the City from all other sources for the ensuing fiscal year, with comparative statements in parallel columns, of the taxes and other revenues for the current and next preceding fiscal year, and the increases or decreases estimated or proposed.
(c) A statement of the financial condition of the City.
(d) Such other information as the City Commission may direct or the City Manager may deem advisable. The budget shall be made a part of the record of the City Commission, and notice that the same has been submitted to the City Commission shall be given in the manner and form provided for other advertisements.