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Resolution No. 2005-02 Page 5 Section 7.06. Council Action on Budget. Subdivision 1. The Council shall annually adopt a 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 in accordance with this Charter, the City Council, and MN Statute 275.065, as amended. 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 Council. The meetings shall be so conducted as to give interested citizens a reasonable opportunity to be heard. The Council may revise the proposed budget but no amendment to the budget shall increase the authorized expenditures to an amount greater than the sum of estimated income and reserves. The Council shall adopt the budget by a resolution that shall set forth the total for each budgeted fund and each department. • - - • _ _ •- • - -••- •• . .. - - - - . .- . . • • . .. -- - . . . . .. - . . - . • . . The budget shall indicate the sums to be raised and from what sources and the sums to be spent and for what purpose as the Council deems necessary for establishing the budget. The Council shall also adopt a resolution levying the amount of taxes provided in the budget, and the Clerk-Administrator shall certify the tax resolution to the County Auditor in accordance with state law. Adoption of the budget resolution shall constitute appropriations at the beginning of the fiscal year of the sums fixed in the resolution of the several purposes named. Subdivision 2. t least two weeksAs specified by MN Statute 275.065, as amended,before the budget is adopted for the ensuing fiscal year a .. . . . _ ., •• . -• - , •• . • : - -•, •• - • :- public hearing notice and summary of the proposed budget will be published in the official City newspaper, the City Newsletter, and, if available, the City web site. Such summary . - - • •• . •_ _ . _ - teshould be readily hfidefsteeelunderstandable by the layperson, and shall-should provide appropriate supporting information as to the necessity for any increase in the budget over the total for the current fiscal year,but failure_. Failure to provide the specified summary will not invalidate the budget. The final budget will be published in accordance with Minnesota Statutes on Truth in Taxation or no later than 60 days after adoption by the Council in the official City newspaper, the City newsletter and, if available, the City web site. Subdivision 3. If the Council fails to adopt the budget by the beginning of the next fiscal year, the preceding months fiscal year budget shall go into effect for up to thirty-one (31) days or until the Council adopts a budget. S