Ordinance 1009 - Laserfiche WebLink

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fund, including factors affecting the ability to raise resources through debt issues, and include such other `r material as the Ccity Aadministrator deems desirable or as requested by the City Council. (Amended 2010 Ord. 841). Subdivision 4. Budget Planning Guideline. The purpose of this section is to provide the public with a general time table for the annual budget process. The dates are guidelines and subject to change by the CU -Council and MNinnesota Statutes, section 275.065, as amended. Section 7.05 Five -Year Financial Plan. Subdivision 1. The Cif Council shall have prepared a five-year 5- ear financial plan commencing with the ensuing calendar year. The Ott -Council shall hold a public hearing upon at least ten 10) days' posted and published notice in the City's official newspaper and, if available, the City web -site and shall then adopt the five-year 5- ear financial plan, with or without amendment, by June 1st of each year. The financial plan shall consist of at least the following threes elements as specified in subdivisions 2 through 4 which follow: (Amended 2010 Ord. 8391 Subdivision 2. The Ccapital Jimprovement Pprogram shall contain a list of all capital improvements proposed to be undertaken during the next fives 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 3. A Ffive-Yyear 5- ear Rrevenue and Eexpense Bestimate shall contain a tentative revenue policy that describes five-year 5- ear plans for financing public services and capital improvements. It shall measure the objectives and needs for each City department, the standard of services desired, and the impact of each such service on the annual operating budget. Subdivision 4. The Ccapital Bbudget shall be a summary on the basis of a five-year 5- ear 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 five-(5)--year 5- ear 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. (Amended 2010 Ord. 839.by Or-dinemee 839, AdoptedDee 14�2009;Published Dee-24, 20(39-.) 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 MNinnesota Statutes, section 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 thirty (30)-day period for public review and input to the annual budget prior to final approval by the C-it- -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 Page 12 of 19 DOCSOPEN\MU210\4\903732. v2-9/20/23