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(A) The annual operating budget shall provide a complete financial plan of all municipal funds and activities for the ensuing fiscal year and, except as required by this Charter, shall be in such form as the Manager deems desirable or the Council may require. In organizing the annual operating budget, the Manager shall utilize the most feasible combination of expenditure classification by fund, organization, unit, program, purpose or activity, and object. It shall begin with a clear general summary of its contents; shall show in detail all estimated income, and all proposed expenditures, including debt service, for the ensuing fiscal year; and shall be so arranged as to show comparative figures for actual and estimated income and expenditures of the preceding fiscal year. It shall indicate in separate sections:
(1) Proposed expenditures for current operations during the ensuing fiscal year, detailed by offices, departments, and agencies in terms of their respective work programs, and the method of financing such expenditures; and
(2) Proposed capital expenditures during the ensuing fiscal year, detailed by offices, departments, and agencies when practicable, and the proposed method of financing each such capital expenditure; and
(3) Anticipated net surplus or deficit for the ensuing fiscal year of each utility owned or operated by the municipality and the proposed method of its disposition; and subsidiary budgets for each such utility giving detailed income and expenditure information shall be attached as appendices to the annual operating budget. The total of proposed expenditures shall not exceed the total of estimated income and unencumbered balances.
(B) The annual tax budget shall be governed in all respects by the laws of Ohio pertaining to budgets of municipal corporations. The provisions of this Charter relating to the annual operating budget shall be in addition to those laws, but shall be directory only and the failure to follow those provisions shall not invalidate any contract, bond, note, certificate of indebtedness, or other instruments or action taken by the municipality.