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<br /> <br /> Section 7.05 Long TermFive-Year Financial Plan. <br /> <br /> Subdivision 1. The City Council shall have prepared a long-termfive-year financial plan <br />commencing in thewith the ensuing calendar year. 1980. The City Council shall hold a public <br />hearing on the long-termfive-year financial plan and adopt it by ordinance, with or without <br />amendment, by June 1st of each year. The financial plan shall consist of at least the following <br />fourthree elements as specified in subdivisions 2-54 which follow: <br /> <br /> Subdivision 2. The Public Service Program. The program shall be a continuing five-year <br />plan for all public services, estimating future needs for the public health, safety and welfare of the <br />City. It shall measure the objectives and needs for each City department, the standard of <br />services desired, and the impact of each such service on the annual operating budget. <br /> <br /> Subdivision 32. The Capital Improvement PlanProgram. This program shall consist of <br />projects and facilities that are or will be needed by the City in carrying out the anticipated program <br />of public services. It shall includecontain a list of all capital improvements proposed to be <br />undertaken during the next five fiscal years, with appropriate supporting information as to the <br />necessity for such improvements; cost estimate, method of financing and recommended time <br />schedule for each such improvement; and the estimated annual cost of operating and maintaining <br />the facilities to be constructed or acquired. This information shall be revised and extended each <br />year for capital improvements still pending or in process. <br /> <br /> Subdivision 43. A -Long-TermFive-Year Revenue Programand Expense Estimate . This <br />program shall consist ofcontain a tentative revenue policy whichthat describes long-termfive- <br />year plans for financing public services and capital improvements. It shall measure the <br />objectives and needs for each City department, the standard of services desired, and the impact <br />of each such service on the annual operating budget. <br /> <br /> Subdivision 54. The Capital Budget. This program shall be a summary on the basis of a <br />five-year period of the capital or money requirements for the above described programs. It shall <br />list a priority for each anticipated investment in community facilities and balance this with a <br />consideration of the availability of necessary revenues. <br /> <br /> Subdivision 65. A summary of the long-termfive year financial plan shall be published <br />before August 1st each year in the City newsletter annually.official City newspaper, the City <br />newsletter, and, if available, the City web site. <br /> <br /> Section 7.06. Council Action on Budget. <br /> <br /> Subdivision 1. The Council shall annually adopt a budget calendar by June 1st. The <br />calendar will establish the time line for development and submission of the budget and allow <br />for public review and comment in accordance with this Charter, the City Council, and MN <br />Statute 275.065, as amended. The budget shall be considered at the first regular monthly <br />meeting of the Council in September and at subsequent meetings until a budget is adopted for <br />the ensuing year. The budget calendar will provide a 30-day period for public review and input <br />to the annual budget prior to final approval by the City Council. The meetings shall be so <br />conducted as to give interested citizens a reasonable opportunity to be heard. The Council may <br />revise the proposed budget but no amendment to the budget shall increase the authorized