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Mounds View Charter Commission Date: June 4, 2004 <br /> Charter Updates; Category 2 Items; Chapter 7 <br /> Revision—Draft 6 Page6 of 13 <br /> Section 7.05 Long Term Financial Plan. <br /> Subdivision 1. The City Council shall have prepared a long-term financial plan <br /> commencing in the calendar year 1980. The City Council shall hold a public hearing on the <br /> long-term financial plan and adopt it by ordinance with or without amendment by June 1 of <br /> each year. The financial plan shall consist of four elements as specified in subdivisions 2-5 <br /> which follow: <br /> Subdivision 2. The Public Service Program. The program shall be a continuing <br /> five-year plan for all public services, estimating future needs for the public health, safety and <br /> welfare of the City. It shall measure the objectives and needs for each City depaitinent, the <br /> 11111 standard of services desired, and the impact of each such service on the annual operating <br /> budget. <br /> Subdivision 3. The Capital Improvement Plan. This program shall consist of <br /> projects and facilities that are or will be needed by the City in carrying out the anticipated <br /> program of public services. It shall include a list of all capital improvements proposed to be <br /> undertaken during the next five fiscal years, with appropriate supporting information as to <br /> the necessity for such improvements; cost estimate, method of financing and recommended <br /> time schedule for each such improvement; and the estimated annual cost of operating and <br /> maintaining the facilities to be constructed or acquired. This information shall be revised <br /> and extended each year for capital improvements still pending or in process. <br /> • <br /> City of Mounds View <br />