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to showing proposed expenditures for current operations, it shall show proposed capital <br />outlay anti improvement expenditures to be made during the year and the proposed <br />method of financing each such capital expenditure. The total proposed operating budget to <br />be provided from the property tax shall not exceed the mounts authorized by state statutes <br />and this charter. Consistent with these provisions, the budget shall contain such <br />information and be in the form prescribed by ordinance and by state statutes. The Annual <br />Financial Statement shall be in such form as state statutes, this charter or the council may <br />prescribe. ~, <br /> <br />7.4.2. For each utility operated by the city, its budget shall show anticipated net surplus <br />or deficit and the proposed method of its disposition; and subsidiary budgets for each utility <br />giving income and expenditure information shall be included or attached as appendices. <br /> <br />Section 7.5. Long-term Financial Plan. <br /> <br />7.5.1. The city council shall have prepared a long-term financial plan of at least five <br /> <br />years, cz ..... ",,~- ~'' **'~ ~'~'~"'~'-' 5'gar ~9°~ This information shall be revised and <br /> <br />extended each year. The city council shall hold a-an annual public hearing on the <br />long-term f'mancial plan and adopt it by resolution with or without amendment. The <br /> <br />f'mancial plan shall, at minimum, consist of.v_4' ........... ~..~,._..~ three elements as specified <br />in sections 7.5.2. through 7.5.64. which follow. <br /> <br />7.5.2. The Public Service 4gr-ogrqm~Plan. ~This plan shall be a <br />continuing five-year plan for all public services, estimating future needs for the public <br />health, safety and welfare of the city. It shall measure the objectives and needs for each <br />city department or function, the standard of services desired, and the impact of each such <br /> <br />13 <br /> <br /> <br />