The fiscal year of the City shall begin on the first day of January. On or before the fifteenth day of November of each year, the Mayor shall prepare a balanced budget estimate of the expense of conducting the affairs of the City for the following fiscal year. The estimate shall be compiled from detailed information obtained from the various departments on uniform blanks prepared by the Director of Finance, and shall set forth:
(a) An itemized estimate of the expense of conducting each department.
(b) Comparisons of such estimates with the corresponding items of expenditure for the last two complete fiscal years, and with the expenses of the current fiscal year, plus an estimate of expenditures necessary to complete the current fiscal year.
(c) Reasons for proposed increases or decreases in such items of expenditures compared with the current fiscal year.
(d) A separate schedule of each department showing the things necessary for the department to do during the ensuing year, and things desirable to do if funds permit.
(e) Items of payroll increases as either additional pay to present employees or pay for more employees.
(f) An estimate of the anticipated income of the City from taxation and other sources to meet current expenses for the fiscal year.
(g) A statement of the amounts to be appropriated: For interest on the City debt. For paying off any serial bonds maturing during the year. For the aggregate for the year of the installments required to be appropriated annually during the life of all other bonds of the City in order to pay off such bonds at maturity.
(h) The total amount of outstanding gross and net debt of the City, classified as to limits on such indebtedness, with a schedule of maturities of outstanding general bonds classified to show those for which debt service levies are made inside and outside the limits on the tax rate.
(i) Such other information as may be required by Council.
The total items of current expense in the budget and appropriation ordinance shall not exceed the amount available for such purpose as provided by law. The Mayor shall submit the estimates thus prepared to the Council and at least five hundred (500) copies thereof shall be printed for distribution to citizens who may call for them and the substance thereof shall be printed in the City Journal. The Mayor shall also publish the estimates in an electronic version for widespread distribution utilizing the World Wide Web or a similarly publicly accessible electronic manner.
(Amended by electors 11-3-92; 11-6-07)