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(a) Fiscal Year. Unless by ordinance otherwise provided, the fiscal year shall be the same as established for municipalities by the general law of Ohio.
(b) Estimates. The Mayor with the assistance of the Finance Director shall prepare and submit to Council not less than one hundred and twenty (120) days before the end of each fiscal year an estimate of revenue and expenditures for the succeeding fiscal year. The head of each department, board and commission shall submit to the Mayor the necessary information for such estimates. The estimate shall consist of: estimate of revenue from all sources and comparative statement for the current year and one preceding year; estimate of expenses of each department and activity of the Municipality and comparative statement for the current year and one preceding year; amount of debt and schedule of maturities of outstanding bonds and notes; value of current inventory or supplies; and amount of unencumbered balance in each bond and improvement fund.