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Mounds View Charter Commission Date: August 05, 2004 Charter Updates; Category 2 Items; Chapter 7 • Revision— Draft 8 Page4 of 7 Section 7.05 T-��er-nFive Year Financial Plan, Subdivision 1. The City Council shall have prepared a left-terrfive year financial plan commencing in thcwith the ensuing calendar year, 1980. The City Council shall hold a public hearing on the long4terfifive year financial plan and adopt it by ordinance,with or without amendment,by June 1 of each year. The financial plan shall consist of four elements as specified in subdivisions 2-5 which follow: Subdivision 2. The Public Service Program. The pProgram shall be a continuing five-year plan for all public services,estimating future needs for the public health,safety and welfare of the City. It shall measure the objectives and needs for each City department,the standard of services desired,and the impact of each such service on the annual operating budget. Subdivision 3. The Capital Improvement Plan. This program shall consist of projects and facilities that are or will be needed by the City in carrying out the anticipated program of public services. It shall include a list of all capital improvements proposed to be undertaken during the next five fiscal years,with appropriate supporting information as to the necessity for Inch ;mnrnvemr n+e• rne+Pe+oma+P mo*hod of financing and recommended time sc ated annual cost of operating and maintai This information shall be revised • and ext nding or in process. e Program. This program shall consist year leng-term plans for financing public ram shall be a summary on the basi luirements for the above described progran stment in community facilities and balance cessary revenues. ------year financial plan shall be publish, ewspaper.the City newsletter.and, if availi Section 7.06.-Council Action on Budget. Subdivision 1. The Council shall annually adopt the budget calendar by June 1st. The calendar will establish the time line for development and submission of the budget and allow for public review and comment and in accordance with MN Statute 275.065, as amended. and the City Council and this Charter. The budget shall be considered at the first regular monthly meeting of the Council in September and at subsequent meetings until a budget is adopted for the ensuing year. The budget calendar will provide a 30 day period for public review and input to the annual budget prior to final approval by the City • City of Mounds View