On or before the first (1st) day of the ninth (9th) month of each fiscal year, the Administrator shall submit to the Council a budget for the ensuing fiscal year and an accompanying budget message. The Administrator's message shall explain the budget both in fiscal terms and in terms of the work programs. The Administrator shall outline the proposed financial policies of the Municipality for the ensuing fiscal year, describe the important features of the budget, indicate any major changes from the current year in financial policies, expenditures, and revenues together with the reasons for such changes, summarize the Municipality's debt position and include such other material as the Administrator deems desirable.