Ordinance 772 - Laserfiche WebLink

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Section 7.05 ''~r~Five-Year Financial Plan. Subdivision 1. The City Council shall have prepared a ~~~five- ear financial plan commencing +~ewith the ensuing calendar year. The City Council shall hold a public hearing on the ~-n~five-year financial plan and adopt it by ordinance1 with or without amendment) by June 1st of each year. The financial plan shall consist of at least the following fearthree elements as specified in subdivisions 2-54 which follow: Subdivision ~2. The Capital Improvement tProgram. T";~ nrn^r^m shall esneie contain 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 such improvements; cost estimate, method of financing and recommended time schedule for each such improvement; and the estimated annual cost of operating and maintaining the facilities to be constructed or acquired. This information shall be revised and extended each year for capital improvements still pending or in process. Subdivision 43. A -' ^-~-TeT-nrFive-Year Revenue ~eg~a~and Expense Estimate ~h+s- egfa~ shall ee~sis~-efcontain a tentative revenue policy w~as#that describes I~~-t~five- year plans for financing public services and capital improvements. It shall measure the obiectives and needs for each City department, the standard of services desired, and the impact of each such service on the annual operating budget. Subdivision a4. The Capital Budget. T"~~ r,r^^r,m shall be a summary on the basis of a five-year period of the capital or money requirements for the above described programs. It shall list a priority for each anticipated investment in community facilities and balance this with a consideration of the availability of necessary revenues. Subdivision ~5. A summary of the -#er+~five year financial plan shall be published_ before August 1St each year in the .official City newspaper, the City newsletter, and, if available, the City web site. 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