(a) The recommended budget shall be itemized in such form as shall be provided by law and at a minimum by the requirements of this chapter.
(b) Budget summary. At the head of the recommended budget there shall appear a summary of all anticipated revenues by principal sources, stating separately the amount to be raised by property tax for each separate operating fund comprising the budget; the proposed expenditures for all funds by office, department or agency showing estimated personnel costs, operating expenses and capital costs; and an accounting of all other financial resources or funds whether or not such funds are subject to or proposed for appropriation within the budget.
(c) Anticipated revenues; comparison with other years. Principal revenues shall be listed by source. In parallel columns opposite the several revenue sources, there shall be placed the amount of each revenue source, there shall be placed the amount of each revenue in the approved budget of the previous fiscal year, the amount of revenue by source actually received during such year, to the time of preparing the budget plus the estimated revenues anticipated for the remainder of the fiscal year, and the amount of revenue received in the last completed fiscal year as determined by an independent certified public accountant in an accepted financial statement. There shall be an explanation of the sources of revenues, assumptions underlying the revenue estimates and identification of key revenue trends.
(d) Proposed expenditures; comparison with other years. Recommended proposed expenditures shall be listed by object of expenditure according to the State of Florida Uniform Accounting System for each department or agency for each separate fund. Proposed expenditures shall further be itemized by grouping all expenditures as to whether expenditures are associated with proposed operating expenses, or capital costs, for each department. In parallel columns opposite the several items of proposed expenditures, there shall be placed the amount of each line item in the approved budget of previous fiscal year, the amount of each line item actually expended during such year to the time of preparing the budget plus estimated expenditure for the remainder of the fiscal year, and the expenditures for the last completed fiscal year as determined by an independent certified public accountant in an accepted financial statement.
(e) Revenues and expenditures explained. There shall be an explanation of the: sources of revenues; significant changes in proposed expenditures from the previous fiscal year; and assumptions underlying revenue estimates and identification of key revenue or expenditure trends. Such information shall be supported by appropriate charts and graphs as necessary to present to the taxpayer a clear understanding of the recommended budget. The total of anticipated revenues shall equal the total of proposed expenditures.
(f) Capital improvement program. Along with the proposed budget, the Town Manager shall prepare a plan describing all recommended capital projects to be undertaken within the budget year and within the following four next succeeding years. Such capital improvement program shall list each capital project of $10,000 or more and a useful life of five years or more, indicating proposed or alternative funding sources. The capital improvement plan shall anticipate future capital needs and shall reflect recommended improvements identified in the adopted Comprehensive Plan. Adoption of the capital improvement plan, except for the first fiscal year, shall not be construed to obligate the Town to make such future improvements, but shall serve as a planning tool to anticipate future capital improvement needs.
(g) Budget message required. The Town Manager shall submit, as an integral part of the budget, a budget message. The budget message shall be explanatory of the budget, shall contain an outline of the proposed financial policies of the Town, and shall describe in connection therewith, the important features of the proposed budget. It shall set forth the reasons for salient changes from the previous year in cost and revenue items and shall explain any major changes in financial policy. The budget message shall include: information on the work force organization; departmental functions and financial structure of the Town government; general levels of services to include anticipated service shortfalls; the future economic or financial outlook of the Town; and recommended strategies or budgetary policies, including the impact of policy changes or operations, service levels and/or finances; and an explanation of any conditions or projected events that require changes in operations in order to ensure financial stability or solvency.
(h) Supporting schedules. Attached to the budget message shall be such supporting schedules, exhibits and other explanatory materials, regarding current operations and future needs or capital improvements, as the Town Manager shall believe to be useful to the Town Commission and the public.
(Ord. 92-08, passed 11-18-92)