The council shall have full authority over the financial affairs of the city, and shall provide for the collection of all revenues and other assets, the auditing and settlement of accounts, and the safekeeping and disbursement of public monies, and in the exercise of sound discretion shall make appropriations for the payment of all liabilities and expenses.
The council shall have full power to provide by ordinance for a system of local taxation. In the taxation of real and personal property, the city shall conform as fully as possible to the general state law as to the assessment of such property and the collection of such taxes.
The council shall be responsible for the annual budget. The classification of accounts used in the budget must conform to the classification of accounts used in reporting the actual results. There shall be sufficient copies for each member of the council, for the city clerk, and at least one copy to be available for inspection by the public, at the city hall and the public library.
(Ord. 556, passed 6-27-2016)
The council must consider the budget in compliance with state law and must provide a reasonable opportunity for interested citizens to be heard. The adopted budget must show in detail the city's financial plan for the next fiscal year. It must show the amounts and sources of revenue and the amounts and purposes of expenditures. The total expenditures cannot exceed the total estimated revenues and allocated surplus. The budget must be adopted in compliance with state law. A majority of the council must adopt the budget by resolution and must by resolution levy taxes needed to fund budgeted expenditures. The city clerk will file the tax levy resolution with the county auditor within the required time period.
(Ord. 556, passed 6-27-2016)
Statutory reference:
See M.S.A. § 275.07
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