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• S ` CHAPTER 7 TAXATION AND FINANCES Sec. 7.01. Council to Control Finances. The council shall have full authority over the financial affairs of the city except as limited or prohibited by the state constitution, state laws, or this Charter. It shall provide for the collection of all revenues and other assets, the auditing and settlement of accounts, and the safekeeping and disbursement of public moneys: Sec. 7.02. Fiscal Year. The fiscal year of the city shall be the calendar year. Sec. 7.03. System of Taxation. Subject to the state constitution, and except as forbidden by it or by state law, the council shall have full power to provide by ordinance for a system of local taxation. This authority includes the power by ordinance to assess, levy, and collect taxes on all subjects or objects of taxation except as limited or prohibited by the state constitution, by this Charter or by state laws imposing restrictions upon the city irrespective of Charter provisions. Sec. 7.04. Submission of Budget. Subdivision 1. Annually the city gaff shall submit to the council jos budget estimates in accordance with a budget calendar to 4,,4 Fico r w ��~ �c- _be_established by ordinance or, in the absence of ordinance_, ._ September 1. budget shall provide a complete financial plan for all city funds and activities for the ensuing fiscal year and, except as required by state law or this Charter, shall be in such form as the council may require. It shall include a summary and show in detail all estimated income and all proposed expenditures, including debt service and comparative figures for the current fiscal year, actual and estimated, and the preceding year. 4