§ 10.3. Budget.

Beginning in the year 1945, at the second regular meeting of the Council in March of each year, the City Manager and the Clerk shall submit to the Council in writing, a budget estimate of all income and expenditures of the city for the ensuing year. The budget estimate shall contain the following information:

(a)

A brief and concise budget summary, showing the estimated receipts and expenditures of each fund and the total for all funds.

(b)

A statement of the detailed estimates of all proposed expenditures for each fund, including a statement of all salaries paid to city officials, itemized for each department and activity by objects of expenditure showing, in parallel columns, the expenditures for the preceding year, the appropriation and expenditures for the current year, and the recommendations of the City Manager as to the appropriations to be made for the ensuing year, including an appropriation for contingencies and showing the increases or decreases in the recommended appropriations over the expenditures for the current year. Expenditures for the current year shall be computed as the actual expenditures to April 1st, plus the estimated expenditures for April, May, and June.

(c)

Detailed statements of estimates of all anticipated income of the city from sources other than current taxes and borrowing, compared with the amounts received by the city from each of the same or similar sources for the last preceding and for the current year. Receipts for the current year shall be computed as the actual receipts to April 1st, plus the estimated receipts for April, May, and June.

(d)

A statement of the estimated financial condition of each city fund reflecting the estimated surplus or deficit in each such fund.

(e)

A statement of the bonded and other indebtedness of the city showing the amount required in the ensuing year for retirement of principal on the debt, for interest and for a sinking fund for term bonds if such a fund is required.

(f)

A statement of outstanding delinquent taxes and special assessments which have been levied during the current and preceding fiscal years of the city and an estimate of the amount thereof which may reasonably be expected to be collected or realized upon during the next fiscal year of the city.

(g)

An estimate of the amount of money proposed to be raised by taxation and the amount to be raised from bond issues which together with the estimated income from other sources will be necessary to meet the proposed expenditures.

(h)

Such other information as may be required by the Council.