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Page 2. amounts authorized by law and this charter. In addition to any other limits, the total proposed operating budget to be provided from the prop- erty tax shall not increase more than 6 per cent over the preceding year without submission to the voters for approval. Consistent with these provisions, the budget shall contain such information and be in the form prescribed by ordinance and by law. Sec. 7.05. Long-t'erm financial plan. Subdivision 1. The planning com- mission, if such there be, shall prepare and submit to the council a rec- ommended long-term financial plan no later than 6/1 of each year, com- mencing with the calendar year 1980. The council shall hold a public hearing on the long-term financial plan and adopt it with or without a- mendment no later than 8/15. The financial plan shall consist of four elements as specified in subdivisions 2-5. Subd. 2. The public services program. The program shall be a five-year plan for al:. public services, estimating future needs for recreation, fire protection, police protection, and so on. It shall measure the objectives and needs for each city department , the standard of services desired, and the impact of each service on the annual operating budget . Subd. 3. The capital improvement plan. This program shall consist of projects and facilities that are or will be needed by the city in carry- ing out the anticipated program of public services. It shall include a list of all capital improvements proposed to be undertaxen during the next five fiscal years, with appropiate supporting information as to the necess- ity for such improvements ; cost estimates, method of financing and recom- mended time schedule for each such improvement ; and the estimated annual cost of operating and maintaining the f acilitye$ to be constructed or ac- quired. This information shall be revised and extended each year for cap- ital improvements still pending or in process. Subd. 4. A Long- term ;revenue program. This program shall consist of a tentative revenue policy which describes long-term plans for financing public services and capital improvements. Subd. 5. The capital budget . This program shall be a summary on the basis of a five-or six-year period of the capital or money requirements for the above described programs. It shall list a priority for each anticipated investment in community facilities and balance this with a consideration of the availability of necessary revenues.