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Mounds View Charter Commission Date: June 4, 2004 Charter Updates; Category 2 Items; Chapter 7 • Revision—Original to Draft 6 Comparison Pagel of 8 Objectives: 1.) in 7.06.01 Change September requirement for public hearing to be a simple reference requiring compliance with the State Statute pertaining to Truth in Taxation for timing but retain the requirement to hold a public meeting even if State Statute would not require it. Also remove the word"monthly" as it is not consistent with other references to"regular council meetings." 2.)in 7.06.02 Change to"two week"time line to be something more easily complied with. 3.)Address ambiguity of"object level" etc. per Charlie Hansen's Memo of November 13, 2002 4.) in 7.12.02 Delete Subdivision 2 CHAPTER 7 TAXATION AND FINANCES Section 7.01 Council to Control Finances. (no changes) Section 7.02 Fiscal Year. (no changes) Section 7.03 System of Taxation. (no changes) • Section 7.04. Submission of Budget. Subdivision 1. Annually, on or before the 15th calendar day of September of each year or as specified by MN statute 275.065, as amended, the Clerk-Administrator shall submit to the Council the budget estimates for funds levying property taxes for the ensuing fiscal year and an accompanying summary message in accordance with a budget calendar to be established by resolution. The final 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. In addition to showing proposed expenditures for current operations,it shall show proposedP osed capital expenditures to be made during the year and the proposed method of financing each such capital expenditure. The total proposed operating budget to be provided from the property tax shall not exceed the amounts authorized by state law and this Charter. Consistent with these provisions,the budget shall contain such information and be in the form prescribed by ordinance and by state law. the City Council. Subdivision 2. For each amity-enterprise operated by the City, its budget shall show income and expenditure information; anticipated net surplus or deficit and the • City of Mounds View