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Mounds View Charter Commission Date: June 30, 2004 Charter Updates; Category 2 Items; Chapter 7 Revision—Draft 7 Page2 of 7 comparative figures for the current fiscal year,actual and estimated, and the preceding year. In addition to showing proposed expenditures for current operations, it shall show proposed capital expenditures to be made during the year and the proposed method of financing each such capital expenditure. The total proposed operating budget to be provided from the property tax shall not exceed the amounts authorized by state law and this Charter. Consistent with these provisions,the budget shall contain such information and be in the form prescribed by the City Council. Subdivision 2. For each u+ifit�-enterprise operated by the City,its budget shall show income and expenditure information; anticipated net surplus or deficit and the proposed method of its disposition,; and subsidiary budgets fof eaeh stteh utility giving Subdivision 3. The Clerk-Administrator's message shall explain the budget both in fiscal terms and in terms of the work programs, linking those programs to goals of the City and community_priorities. It shall outline the proposed financial policies and programs of the City for the ensuing fiscal year and the impact of those policies and programs compared to the City's current five year plan, as adopted by the City Council by June 1. It shall describe the important features of the budget, indicate any major changes from the current year in financial policies, expenditures, and revenues together with the reasons for such changes. It shall summarize the City's debt position, including factors affecting the ability to raise resources through debt issues, and include such other material as the Clerk-Administrator deems desirable or as requested by the City Council City of Mounds View