(A) The fiscal year of the City shall begin on the first day of January. On or before the fifteenth (15th) day of December in each year the Mayor shall prepare an estimate of the expense of conducting the affairs of the City for the following year. This estimate shall be compiled from detailed information obtained from the various departments in a format approved by the Auditor, and shall set forth:
(1) An itemization of all anticipated revenue.
(2) An itemized estimate of the expense of conducting each department.
(3) Comparisons of such estimates with the corresponding items of expenditure for the last two (2) complete fiscal years and with the expenditures of the current fiscal year plus an estimate of expenditures necessary to complete the current fiscal year.
(4) Reasons for proposed increases or decreases in such items of expenditure compared with the current fiscal year.
(5) A separate schedule for each department showing the things necessary for the department to do during the year and which of any desirable things it ought to do if possible.
(6) Items of payroll increases as either additional pay to present employees, or pay for more employees.
(7) The amounts required for interest on the City's debt, and for maturities of bond issues.
(8) The total amount of outstanding City debt with a schedule of maturities of bond issues.
(9) A statement from the Auditor on the reasonableness of the total probable income of the City as set forth by the Mayor's estimate.
(10) Such other information as may be required by the Council.
(B) The Mayor shall submit the estimate thus prepared to the Council and an adequate number of copies thereof shall be prepared for distribution to citizens who may ask for them. Copies of the estimates shall also be furnished to the newspapers and other news media of the City and to the public library and each of its branches. (Amended 5-3-11)