The City Manager and Finance Director shall present to Council each year during the budget process an updated five-year capital expenditure plan in the following manner:
(a) The City Manager shall work with the department heads to collect capital expenditure plan data for the coming year. He/she shall integrate the respective recommendations fo the Boards and Commissions which provide feedback on specific capital expenditures for the upcoming budget year.
(b) The City Manager and Finance Director shall prepare a balanced financial proposal to support the upcoming year's capital expenditure proposal.
(c) The capital expenditure proposal and supporting financial plan for the coming year shall be reviewed by Council during the annual budget work session(s).
(d) A public hearing shall be held prior to the first reading of the annual budget to review a summary capital expenditure proposal for the upcoming year and take public comment.
(e) A revised five-year capital expenditure plan shall be developed for Council concurrently with the annual budget and shall also be reviewed during the annual budget worksession(s).
(Ord. 07-10AC. Passed 2-5-07.)
(Ord. 07-10AC. Passed 2-5-07.)