Agenda - Council - 02/22/1994 - Laserfiche WebLink

Home

CHAPTER 7 TAXATION AND FINANCES 7.1. Council tO Control Finances. The Council shall have full authority over the financial affairs of the City ~xcept as limited or prohibited by he state constitution, state laws, or this charter. It shall provide forithe collection of all revenues and other assets, and the auditing and settlement of accounts. It shall ~t~ther provide for the safekeeping and disbursement of public monies. 7.2. Fiscal Yea?. The fiscal year of the City shall be the calendar year. 7.3. System of ITaxation. Subject to the state constitution, and except as forbidden by it or by state statutes, t~e Council shall have full power to provide by ordinance for a system of local taxation. This authority includes the power by ordinance to assess, levy, and collect taxes on all subjects or object~ of taxation except as limited or prohibited by the state constitution, by this charter or by state ~;tatutes imposing restriction upon the City irrespective of charter provisions. 7.4. Submissicm of Budget. 7.5. 7.4.1. A.anually the clerk-administrator shall submit to the Council the budget recommen iations in accordance with a budget calendar to be established by resolution. The budge, shall provide a complete financial plan for all City funds and activities for the ensuing fi.~ :al year and except as required by state statutes or this charter, shall be in such form as tlr e Council may require. It shall include a summary and show in detail all estimated tncome 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 expenditur~:s to be made during the year and the proposed method of financing each such capital ex ,l~endimre. The total proposed operating budget to be provided from the property tax shall nbt exceed the amounts authorized by state statutes and this charter. Consistent with thes~ provisions, the budget shall contain such information and be in the form prescribedlby ordinance and by state statues. The Annual Financial Statement shall be in such form ps state statutes, this charier or the Council may prescribe. 7.4.2. l~of~ each utility operated by the City, its budget shall show anticipated net surplus or deficit a~d the proposed method of its disposition; and subsidiary budgets for each utility giving inc{me and expenditure information shall be included or attached as appendices. Long-tern Financial Plan ? 7.5.1 Th~ City Council shall have prepared a long-term £mancial plan of at least five years. This information shall be revised and extended each year. The City Council shall hold an ar~nual public hearing on the long-term financial plan and adopt it by resolution with or Oithout amendment. The financial plan, at minimum, shall consist of three elements ~s specified in sections 7.5.2 through 7.5.4. which follow. 7.5.2. Th$ Public Service Program. The program shall be a continuing five-year plan for all public ~ervices, estimating future needs for the public health, safety and welfare of the city. It sl~all measure the objectives and needs for each city department, the standard of services d~sired, and the impact of each such service on the annual operating budget.