City Charter - Chapter IX

Finances and Budgets.

Section 9.1. Fiscal year.

The fiscal and budget year of the city shall begin on July 1.

Section 9.2. Budget – Recommended budget.

On or before the third Monday in May in each year the city manager shall submit to the council a recommended budget for the next fiscal year which, considering any anticipated unexpended balance or deficit at the end of the current fiscal year, is within the tax limit and other anticipated revenue of the city. Such recommended budget shall include therein at least the following information:

1. The detailed estimates of the city manager, with supporting explanation of proposed expenditures for each office, department, and board of the city, with a comparison of the actual expenditures for the corresponding items for the last preceding fiscal year in full, and the expenditures for the current fiscal year to March 31 and an estimate of the expenditures for the balance of the current fiscal year;
2. Statements of the indebtedness of the city, showing the principal and interest requirements for the next fiscal year, the debt authorized and unissued and the condition of the sinking and debt retirement funds, if any;
3.  Detailed estimates of all anticipated revenues of the city from sources other than taxes, with a comparative statement of the amounts estimated for and actually received from each of the same or similar sources for the last preceding fiscal year in full, for the current fiscal year to March 31, and estimated revenues there from for the balance of the current fiscal year;
4. A statement of the estimated accumulated cash and unencumbered balances, or deficits, at the end of the current fiscal year;
5. An estimate of the amount of money to be raised from taxes to be levied, from delinquent taxes, and the amount to be raised from bond issues which, together with available unappropriated funds and any revenues from other sources, will be necessary to meet the proposed expenditures;
6. Such other supporting information as the council may request.

Section 9.3. Same – Public hearing.

Before its final adoption, public hearing on the budget proposal shall be held as provided by law. Notice of the time and place of holding such hearing shall be published in a newspaper having general circulation in the city at least a week in advance thereof. A copy of the proposed budget shall be on file and available to the public during office hours at the office of the clerk for a period of not less than one week prior to such public hearing.

Section 9.4. Same – Adoption.

The council shall, not later than the second regular meeting in June, adopt a budget for the ensuing fiscal year and make appropriations therefore. After consideration of probable other revenues, determine and declare the amount of money necessary to be raised by property taxation, which amount shall not be greater than otherwise limited in this Charter or by general law.

Section 9.5. Same – Capital improvement bonds.

Any capital improvement items contained in the budget, upon the vote of not less than four city councilmen, may be financed by the issuance of bonds as a part of the budget system, provided, that the amount of such bonds together with the taxes levied for the same year shall not exceed the limit of taxation authorized by law.

Section 9.6. Same – Appropriations; charging of expenditures; interim accounting; end of year surplus.

1. Except for purposes which are to be financed by the issuance of bonds or by special assessment, or for other purposes not chargeable to a budget appropriation, no money shall be drawn from the treasury of the city except in accordance with an appropriation thereof for such specific purposes, nor shall any obligation for the expenditure of money be incurred without an appropriation covering all payments which will be due under such obligation in the current fiscal year. The council may transfer any unencumbered appropriation balance, or any portion thereof, from one account, department, fund or agency to another.
2. The council may make additional appropriations during the fiscal year for unanticipated expenditures required by the city, but such additional appropriations shall not exceed the amount by which actual and anticipated revenues of the year are exceeding the revenues as estimated in the budget, unless the appropriations are necessary to relieve an emergency endangering the public health, peace or safety.
3. Except in those cases where there is no other logical account to which expenditures can be charged, expenditures shall not be charged directly to the contingency fund (or other similar fund). Instead, the necessary part of the appropriation from the contingency fund (or other similar fund) shall be transferred to the logical account, and the expenditure charged to such account.
4. At the beginning of each quarterly period during the fiscal year, and more often if required by the council, the city manager shall submit to the council data showing the relation between the estimated and actual revenues and expenditures to date; and if it shall appear that the revenues are less than anticipated, the council may reduce appropriations, except amounts required for debt and interest charges, to such a degree as may be necessary to keep expenditures within the revenues.
5. The balance in any budget appropriation which has not been encumbered at the end of the fiscal year shall, subject to restrictions imposed or permitted by law, revert to the general fund.

Section 9.7. Depository.

The council shall designate the depository or depositories for city funds and shall provide for the regular deposit of all city moneys.

Section 9.8. Investments.

Idle moneys may be invested in obligations issued by this city, in obligations of the United States or any state thereof, in other municipal bonds, or such bonds, debentures, mortgages or other highly rated securities or investments as the council may determine.

Section 9.9. Independent audit and report.

An independent audit shall be made of all accounts of the city government at least annually and more frequently if deemed necessary by the council. Such audit shall be made by certified public accountants. The auditor’s report of the city’s business shall be made available to the public in such form as will disclose pertinent facts concerning the activities and finances of the city government.

Section 9.10. Withdrawal of funds.

All funds drawn from the treasury shall be drawn pursuant to the authority and appropriation of the council and upon checks signed by an officer of the city to be designated by resolution of the council. Each such check shall specify the fund or funds from which it is payable and shall be paid from no other fund or funds.

Top