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Mounds View Charter Commission Resolution 2006-05 <br />Dated: April 18, 2006 <br />Section 7.05 Long Term Five-Year Financial Plan. <br />Subdivision 1. The City Council shall have prepared a long-termfive-year financial plan <br />commencing in thewith the ensuing calendar year. 1980. The City Council shall hold a public hearing on <br />the long-termfive-year financial plan and adopt it by ordinance, with or without amendment, by June 1st of <br />each year. The financial plan shall consist of at least the following fourthree elements as specified in <br />subdivisions 2-54 which follow: <br />Subdivision 2. The Public Service Program. The program shall be a continuing five-year plan for <br />all public services, estimating future needs for the public health, safety and welfare of the City. It shall <br />measure the objectives and needs for each City department, the standard of services desired, and the impact <br />of each such service on the annual operating budget. <br />Subdivision 32. The Capital Improvement PlanProgram. This program shall consist of projects and <br />facilities that are or will be needed by the City in carrying out the anticipated program of public services. It <br />shall includecontain a list of all capital improvements proposed to be undertaken during the next five fiscal <br />years, with appropriate supporting information as to the necessity for such improvements; cost estimate, <br />method of financing and recommended time schedule for each such improvement; and the estimated annual <br />cost of operating and maintaining the facilities to be constructed or acquired. This information shall be <br />revised and extended each year for capital improvements still pending or in process. <br />Subdivision 43. A -Long-TermFive-Year Revenue Programand Expense Estimate . This program <br />shall consist ofcontain a tentative revenue policy whichthat describes long-termfive-year plans for <br />financing public services and capital improvements. It shall measure the objectives and needs for each City <br />department, the standard of services desired, and the impact of each such service on the annual operating <br />budget. <br />Subdivision 54. The Capital Budget. This program shall be a summary on the basis of a five-year <br />period of the capital or money requirements for the above described programs. It shall list a priority for <br />each anticipated investment in community facilities and balance this with a consideration of the availability <br />of necessary revenues. <br />Subdivision 65. A summary of the long-termfive year financial plan shall be published before <br />August 1st each year in the City newsletter annually.official City newspaper, the City newsletter, and, if <br />available, the City web site. <br />Section 7.06. Council Action on Budget. <br /> Subdivision 1. The Council shall annually adopt a budget calendar by June 1st. The calendar <br />will establish the time line for development and submission of the budget and allow for public review <br />and comment in accordance with this Charter, the City Council, and MN Statute 275.065, as amended. <br />The budget shall be considered at the first regular monthly meeting of the Council in September and at <br />subsequent meetings until a budget is adopted for the ensuing year. The budget calendar will provide a <br />30-day period for public review and input to the annual budget prior to final approval by the City <br />Council. The meetings shall be so conducted as to give interested citizens a reasonable opportunity to be <br />heard. The Council may revise the proposed budget but no amendment to the budget shall increase the <br />authorized expenditures to an amount greater than the sum of estimated income. and reserves. The Council <br />shall adopt the budget by a resolution that shall set forth the total for each budgeted fund and each <br />Page 4 of 6