The fiscal year of this City shall, unless Council by proper action adopts a different date, be the same as that established from time to time for cities by the general law of Ohio. Within forty-five days after the beginning of each fiscal year, the Mayor, with the assistance of the Director of Finance, shall prepare and submit to the Council an estimate of the revenues and expenditures of the City for the current fiscal year. Such estimate shall be compiled from information which shall be furnished by the head of each department, division, board or commission in such form and detail as the Mayor may require.