The fiscal year of the City shall begin on the first day of January. On or before the fifteenth day of November of the current fiscal year, the Mayor, with the assistance of the Director of Finance, shall prepare and submit to the Council an estimate of the revenues and expenditures of the City departments for the ensuing year. This estimate shall be compiled from detailed information furnished by the head of each department, division, board or commission on uniform blanks prescribed by the Mayor. The classification of the estimate of expenditures shall be as nearly uniform as possible for the main functional divisions of all departments, and shall give the following information:
(a) An estimate of the anticipated revenue from each source during the next succeeding fiscal year, with a comparative statement of the amount received from such source during the two preceding years and the current year plus an estimate of such amounts for the remainder of the current year.
(b) A detailed estimate of the expense of conducting each department and activity of the City for the next succeeding fiscal year, together with comparative statements as provided in the next preceding paragraph, with reasons for proposed increases or decreases as compared with the current fiscal year.
(c) A detailed inventory of supplies and materials on hand and the estimated value thereof at the date of the preparation of the estimate.
(d) A separate schedule for each department showing the things necessary for the department to do and the things which should be done if possible.
(e) The amount of the total and net debt of the City together with a schedule of maturities of outstanding bonds and notes.
(f) A statement of the unencumbered balance in each bond and improvement fund.