At the Council meeting at which the budget estimates are submitted, Council shall fix a date and place for a public hearing on the proposals. A notice of this hearing shall be published once in a newspaper of general circulation in the City at least seven (7) days before the date fixed. The notice shall also state that the budget estimates and message shall be on file for public inspection in the office of the City during usual office hours. At the time and place advertised, Council shall hold a public hearing on the estimates as submitted and may continue such hearing from day to day as may be necessary. After the hearing, Council shall adopt the estimates as submitted, or as amended, as the budget of the City for the ensuing budget year. If the estimated expenditures are increased by Council it shall provide for sufficient additional revenues to cover the increases.