CITY CHARTER - 2023 Website Version American Legal

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adopting this section, designates by resolution the purpose of the reserve or adopts a modified five- year (5-year) financial plan reflecting the reserve purpose. (Amended 2006 Ord. 772; Amended 2023 Ord. 1009.) Subdivision 5. Nothing in this Section shall be construed to impair any general obligation the City may have in support of otherwise lawful indebtedness or similar obligation supported by the full faith and credit of the City, provided, however, that long-term, general obligation indebtedness shall not be used for the purpose of funding the routine and daily business operations of the City. (Amended 2006 Ord. 772.) Section 7.04. Submission of Budget. Subdivision 1. Annually, on or before September 15 of each year or as specified by Minnesota Statutes, section 275.065, as amended, the city administrator shall submit to the Council the budget estimates for funds levying property taxes for the ensuing fiscal year and an accompanying summary message in accordance with a budget calendar to be established by resolution. 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 Council. The final budget shall provide a complete financial plan for all City funds and activities for the ensuing fiscal year and except as required by state law or this Chatter, shall be in such form as the Council may require. It shall include a summary and show in detail all estimated income and all proposed expenditures, including debt service and 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. (Amended 2023 Ord. 1009.) Subdivision 2. For each enterprise operated by the City, its proposed and final budgets shall show income, expenditure, and anticipated net surplus or deficit with the proposed disposition method. Subdivision 3. The city administrator ’s message shall explain the budget, both in fiscal terms and in terms of the work programs, linking 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 Council. It shall describe the important features of the budget, indicate any major changes in financial policies, expenditures, and revenues together with the reasons for such changes. It shall summarize the City’s debt position for each fund, including factors affecting the ability to raise resources through debt issues, and include such other material as the city administrator deems desirable or as requested by the Council. (Amended 2010 Ord. 841; Amended 2023 Ord. 1009.) 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 City Council and Minnesota Statutes, section 275.065, as amended. Activity Estimated Time Period Five-Year Plan: Development Jan. 1 to May 1 Five-Year Plan: Public Review May 1 to May 20 Five-Year Plan: Council Approval July 15 to August 1 Annual Budget Calendar: Adopted by Council June 1 Five-Year Plan: Published to Public August 1 to August 15 Annual Budget: Public Input to Department June 1 to Sept 1