(A) Prior to the commencement of each fiscal year, a budget for the city shall be prepared, and the same will be presented to and approved by the Board of Aldermen.
(B) The annual budget shall present a complete financial plan for the ensuing fiscal year, and shall include at least the following information:
(1) A budget message describing the important features of the budget and major changes from the preceding year;
(2) Estimated revenues to be received from all sources for the budget year, with a comparative statement of actual or estimated revenues for the two years next preceding, itemized by year, fund, and source;
(3) Proposed expenditures for each department, office, commission, and other classification for the budget year, together with a comparative statement of actual or estimated expenditures for the two years next preceding, itemized by year, fund, activity, and object;
(4) The amount required for the payment of interest, amortization, and redemption charges on the debt of the city; and
(5) A general budget summary.
(C) In no event shall the total proposed expenditures from any fund exceed the estimated revenues to be received plus any unencumbered balance or less any deficit estimated for the beginning of the budget year; provided, that nothing herein shall be construed as requiring the city to use any cash balance as current revenue or to change from a cash basis of financing its expenditures.
(Prior Code, § 130.020)