(A) The City Manager shall submit a capital improvement program and proposed budget for the five following fiscal years which shall accompany the proposed operating budget.
(B) The capital improvements program and proposed budget shall contain at least the following:
(1) A summary of current capital improvements which are unfinished including costs to date and projected costs to completion.
(2) A simple, clear summary of the program.
(3) Capital improvements pending or proposed to be undertaken within the ensuing fiscal year, together with the estimated cost of each improvement and the proposed method of financing it.
(4) An estimate of additional annual cost of operating and maintaining the improvements.
(5) An estimate of annual cost reduction in operation and maintenance with completion of improvements.
(6) A five (5) year projection of operating expenditures and debt service compared with a forecast of revenues by fund.
(C) Based upon the five (5) year projection of expenditures and revenues, a financial management program and policy will be proposed.
(D) The School Board shall make its recommendation to the Council through the comprehensive capital improvement program and budget.
(Am. Ord. No. 2003-05, passed 5-6-03)