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I <br />I <br />! <br />I <br />I <br />I <br />I <br />! <br />I <br />I <br />I <br />I <br />I <br />i <br /> <br />I <br />I <br />! <br />I <br />I <br /> <br />7.4.2. For each utility operated by the City, its budget shall show anticipated net <br />surplus or deficit and the proposed method of its disposition; and subsidiary <br />budgets for each utility giving income and expenditure information shall be included <br />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 <br />five years com~'nencL':g.. ~" a.~,.,~ ,.~,,..,~,.~"'~ ....... .,,~,~ ~no~.,,,~. This information shall be revised <br />and extended each year. The City Council shall hold a an annual public hearing <br />on the long-term financial plan and adopt it by resolution with or without <br />amendment. The financial plan, at minimum, shall consist of <br /> <br />three elements as specified in sections 7.5.2 through 7.5.~ 4. which follow. <br /> <br />7.5.2. The Public Service Program. The program shall be a continuing five-year <br />plan for all public services, estimating furore needs for the public health, safety and <br />welfare of the city. It shall measure the objectives and needs for each city <br />department, the standard of services desired, and the impact of each such service on <br />the annual operating budget. <br /> <br />7.5.3. The Capital Improvement Program. This program shall consist of projects <br />and facilities that are or will be needed by the City in carrying out the anticipated <br />program of public services. It shall include a list of all capital improvements <br />proposed to be undertaken during the next five fiscal years, with appropriate <br />supporting information as to the necessity for such improvements; the priority of <br />each anticipated improvement; cost estimate, method of financing and <br />recommended time schedule for each such improvement; and the estimated annual <br />cost of operating and maintaining the facilities to be consumcted or acquired. This <br />information shall be revised and extended each year for capital improvements still <br />pending or in process. <br /> <br /> a <br /> <br />....o~ .~.~: .... ...,.~ ~,,,~...,,~"~:'~ improvements,Five Year Financial Forecast. This <br />forecast shall detail the estimated revenues and expenditures <br /> <br /> <br />