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service on the annual operating budget. <br />Subd. 3. The Capital Inprovement Plan. This program shall consist of projects <br />and facilities that are or will be needed by the city in carrying out the antic- <br />ipated program of public services. It shall include a list of all capital im- <br />provements proposed to be undertaken during the next five fiscal years, with <br />appropriate supporting information as to the necessity for such iniprovements; <br />cost estimate, method of financing and recommended time schedule for each such <br />improvement; and the estimated annual cost of operating and maintaining the <br />facilities to be constructed or acquired. This information shall be revised and <br />extended each year for capital improvements still pending or in process. <br />Subd. 4. A long-term Revenue Program. This program shall consist of a tent- <br />ative revenue policy which describes long-term plans for financing public services <br />and capital improvements. <br />Subd. 5. The Capital Budget. This program shall be a sunrrary on the basis <br />of a five year period of the capital or money requirements for the above described <br />programs. It shall list a priority for each anticipated investment in community <br />facilities and balance this with a consideration of the availability of necessary <br />revenues. <br />Sub. 6. A summary of the long-term financial plan shall be published in the <br />city newsletter annually. <br />Sec. 7.06. Council Action on Budget. <br />Subdivision 1. The budget shall be considered at the first regular monthly <br />meeting of the council in September and at subsequent meetings until a budget is <br />adopted for the ensuing year. The meetings shall be so conducted as to give <br />-20- <br />