Section 89.

The fiscal year of the City shall begin on the first day of January. On or before the first day of July in each year the Director of Finance shall prepare an estimate of the expenses of conducting the affairs of the City for the following year. This estimate shall be compiled from detailed information obtained from the various Division heads on uniform blanks prepared by the Director of Finance and shall set forth:

   (a)   An itemized estimate of the expense of conducting each division.

   (b)   Comparisons of such estimates with the corresponding items of expenditures for the last two (2) complete fiscal years, and an estimate of expenditures necessary to complete the current fiscal year.

   (c)   Reasons for increases or decreases in such items of expenditures.

   (d)   A separate schedule for each Division showing the things necessary for the Division to do during the year, and which of these things is the most desirable to be done.

   (e)   All items of payroll increases, either as additional pay to present employees, or pay for more employees.

   (f)   A statement from the Director of Finance of the total probable income of the City from taxes for the period covered by the budget.

   (g)   A statement from the head of each Division of all anticipated revenues from sources other than the tax levy.

   (h)   The amount of the bonded indebtedness and the sum necessary for interest and Sinking Fund purposes for the year.

   (i)   Such other information as may be required by the Mayor.