HomeMy WebLinkAboutOrdinance 772Section 7.05 ''~r~Five-Year Financial Plan.
Subdivision 1. The City Council shall have prepared a ~~~five- ear financial plan
commencing +~ewith the ensuing calendar year. The City Council shall hold a public
hearing on the ~-n~five-year financial plan and adopt it by ordinance1 with or without
amendment) by June 1st of each year. The financial plan shall consist of at least the following
fearthree elements as specified in subdivisions 2-54 which follow:
Subdivision ~2. The Capital Improvement tProgram. T";~ nrn^r^m shall esneie
contain a list of all capital improvements proposed to be
undertaken during the next five 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 43. A -' ^-~-TeT-nrFive-Year Revenue ~eg~a~and Expense Estimate ~h+s-
egfa~ shall ee~sis~-efcontain a tentative revenue policy w~as#that describes I~~-t~five-
year plans for financing public services and capital improvements. It shall measure the
obiectives and needs for each City department, the standard of services desired, and the impact
of each such service on the annual operating budget.
Subdivision a4. The Capital Budget. T"~~ r,r^^r,m shall be a summary on the basis of a
five-year 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 -#er+~five year 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.
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 MN
Statute 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 30-day period for public review and input
to the annual budget prior to final approval by the City 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 budget shall increase the authorized
expenditures to an amount greater than the sum of estimated income: and reserves. The Council
shall adopt the budget by a resolution that shall set forth the total for each budgeted fund and
each department_ The budget
shall indicate the sums to be raised and from what sources and the sums to be spent and for
what purpose as the Council deems necessary for-~ s~ establishing the budget send.
The Council shall also adopt a resolution levying the amount of taxes provided in the budget, and
the Clerk-Administrator shall certify the tax resolution to the County Auditor in accordance with
state law. Adoption of the budget resolution shall constitute appropriations at the beginning of the
fiscal year of the sums fixed in the resolution of the several purposes named.
Subdivision 2. n+ ~a~~++..,^,.,^oU~As specified by MN Statute 275.065, as amended,
before the budget is adopted for the ensuing fiscal year, ^ ~, ~mm^n, ~h^II ho .,.„o., a public
hearing notice and summary of the proposed budget will be published in the official City
newspaper, the City Newsletter, and, if available, the City web site'
Such summary s#a~la-be-s,~eff^ ^~~should be readily understee~andable by
the layperson, and sf~allshould provide appropriate supporting information as to the necessity for
any increase in the budget over the total for the current fiscal year-#Failure to provide the
specified summary will not invalidate the budget.
The final budget will be published in accordance with Minnesota Statutes on Truth in
Taxation or no later than 60 days after adoption by the Council in the official City newspaper,
the City newsletter and, if available, the City web site.
Subdivision 3. If the Council fails to adopt the budget by the beginning of the next fiscal
year, the preceding months fiscal year budget shall go into effect for up to thirty-one (31) days
or until the Council adopts a budget.
Section 7.07. Enforcement of the Budget.
The Clerk-Administrator may designate department heads or other staff who may assist
with each fund or department in the annual budget. It shall be the duty of the Clerk-Administrator
to strictly enforce the detail provisions of the budget. The City Council shall strictly enforce
et~+s#fy the provisions of the budget. ftThe City Council shall not authorize any payment or the
incurring of any obligation by the City, unless an appropriation has been made in the budget
resolution, and there is a sufficient unexpended balance after deducting the total past
expenditures and encumbrances against the appropriation. No officer or employee of the City
shall place any order or make any purchase unless the amount is
authorized in the budget resolution..--and in compliance with; the purchasing policies of the Cites
as established by the City Council, the City Charter, the City Code, and Minnesota Statutes.
Any obligation incurred by any person in the employ of the City for any purpose not authorized in
the budget resolution, or for any amount in excess of the amount authorized, shall be a personal
obligation upon the person incurring the obligation. No check shall be issued or transfer made to
any account other than one owned by the City until the claim to which it relates has been
supported by an itemized bill, payroll, or time sheet or other document approved and signed by
the responsible City officer who vouches for its correctness and reasonableness.
Section 7.08. Alterations in the Budget.
After the budget resolution has been adopted, the Council may amend the bud eg t by
resolution, but shall not increase the amounts fixed in the resolution beyond the sum of estimated
receipts and reserves, except to the extent that actual receipts exceed the estimate or to
implement Section 7.12 herein. At anytime the Council may; by resolution awed-b~~a-
m~+ir~rifir of i+~ e+~omhor~~ reduce the sums appropriated for any purpose ,_
to increase reserves or authorize the transfer of sums from unencumbered balances ef-
in the budget,
Section 7.09. Funds. (no changes)
Section 7.10. City Indebtedness.
Subdivision 1. Except as provided in Sections 7.11 and 7.12, no obligation shall be
issued to pay current expenses, but the Council may issue and sell obligations for any other
municipal purpose in accordance with state law and within the limitations prescribed by law.
Except in the case of obligations for which an election is not required by this Chapter or by state
law, no such obligations shall be issued and sold without the approval of the majority of the voters
voting on the question at a general or special election.
Subdivision 2. A description of each such proposed issue shall be published in the official
City newspaper, the City Newsletter, and, if available, the City web site, but failure to give such
description, or any defect in the description, shall not invalidate the issue.
Section 7.11. 1. Anticipation Certificates.
At anytime after January 1, in accordance with MN Statute 412.261. as amended, with the
following restrictions; the Council may issue certificates of indebtedness in anticipation of state
and federal aids and the collection of taxes levied the previous year for any fund and not yet
collected. The total amount of certificates issued against any fund for any year together with
interest thereon until maturity shall not exceed 90% of the total state and federal aids and current
taxes due to the fund and uncollected at the time of issuance. Such certificates shall be issued
on such terms and conditions as the Council may determine, but they shall become due not later
than Ap~i~August 1St of the year following their issuance. The proceeds of the tax levied and
such state or federal aids as the governing body may have allocated for the fund against which
tax anticipation certificates are issued, and the full faith and credit of the City shall be irrevocably
pledged for the redemption of the certificates.
Section 7.12. Emergency Debt Certificates.
S If in any year the receipt from taxes, availability of reserves, or other
sources should for some unforeseen cause become insufficient for the ordinary expenses of the
City, or if any calamity or other public emergency necessitates the making of extraordinary
expenditures, the Council may by ordinance issue, on such terms and in such manner as the
Council determines, emergency debt certificates not to exceed 10% of the total City budget and
to run not to exceed three years. a~tTaxes sufficient to pay principal and interest on such
certificates with the margin required by law shall be levied as required by law. The ordinance
authorizing the issue of such emergency debt certificates shall state the nature of the emergency
and be approved by at least three members of the Council. It may be passed as an emergency