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MEMORANDUM <br /> TO: Samantha Orduno, Clerk - Administrator <br /> FROM: Don Brager, Finance Director - Treasurer <br /> DATE: March 3 , 1993 <br /> SUBJECT: Comments on Chapters 7 & 8 of the City Charter <br /> CHAPTER 7 <br /> Section 7. 04 Submission of Budget <br /> Subd. 2 Suggest a rewrite for clarity and correct <br /> terminology. "An annual budget. shall be <br /> prepared for each utility operated by the <br /> City. Each budget shall include <br /> estimated revenues, expenses, and net <br /> income or net loss. " <br /> Section 7. 05 Long Term Financial Plan <br /> A)" Subd. 5 I believe that this subdivision should be <br /> i Le included in Subd. 3 Capital Improvement <br /> � �� � / Plan. A capital budget is part of a <br /> AcapiL <br /> tal improvement plan. <br /> �1 Section 7. 06 Council Action on Budget <br /> Subd. 1 The State's Truth In Taxation Law <br /> prescribes notices to taxpayers of the <br /> City' s budget hearing and the time frame <br /> in which the budget hearing should be <br /> held. Perhaps a phrase such as " . . . or <br /> as provided for by State Statute" . <br /> CONTINUED NEXT PAGE <br />