Subdivision 1. Annually the City Administrator shall submit to the Council the budget estimates in accordance with a budget calender to be established by resolution. The budget shall provide a complete financial plan for all City funds and activities for the ensuing fiscal year and, except as required by state law or this Charter, shall be in such form as the council may require. It shall include a summary and show in detail all estimated income and all proposed expenditures, including debt service and comparative figures for the current fiscal year, actual and estimated, and the preceding year. 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 total proposed operating budget to be provided from the property tax shall not exceed the amounts authorized by state law and this Charter. Consistent with these provisions, the budget shall contain such information and be in the form prescribed by ordinance and by state law.
Subdivision 2. For each utility operated by the City, its budget shall show anticipated net surplus or deficit and the proposed method of its disposition; and subsidiary budgets for each such utility giving income and expenditure information shall be included or attached as appendices.
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