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with or without amendment. The financial plan, at minimum, shall consist of three <br /> elements as specified in sections 7.5.2 through 7.5.4. which follow. <br /> 7.5.2. The Public Service Program. The program shall be a continuing five-year plan <br /> for all public services, estimating future needs for the public health, safety and welfare of <br /> the city. It shall measure the objectives and needs for each city department, the standard <br /> of services desired, and the impact of each such service on the annual operating budget. <br /> 7.5.3. The Capital Improvement Program. This program shall consist of projects and <br /> facilities that are or will be needed by the city in carrying out the anticipated program of <br /> public services. It shall include a list of all capital improvements proposed to be <br /> undertaken during the next five fiscal years, with appropriate supporting information as to <br /> the necessity for such improvements; the priority of each anticipated improvement; cost <br /> estimate, method of financing and recommended time schedule for each such <br /> improvement; and the estimated annual cost of operating and maintaining the facilities to <br /> — be constructed or acquired. This information shall be revised and extended each year for <br /> capital improvements still pending or in process. <br /> 7.5.4. Five Year Financial Forecast. This forecast shall detail the estimated revenues <br /> and expenditures necessary to carry out the Public Service and Capital Improvement <br /> Programs as described in sections 7.5.2. and 7.5.3. In addition, the forecast will identify <br /> — financing sources and uses, cash flow projections, and financial policies that impact or <br /> exercise control over revenues and expenditures. <br /> — 7.5.5. A summary of the long-term financial plan shall be published in the city newsletter <br /> annually. <br /> Section 7.6. Council Action on Budget. <br /> 7.6.1. The budget public hearing dates, procedures to be followed during the hearings, <br /> and publications are established by state statute. However, the actual adoption of the <br /> proposed annual budget and the municipal levy shall take place at the next regularly <br /> scheduled council meeting following the mandated public hearing(s) to ensure that <br /> comments received during the public hearing(s) are given due consideration before the <br /> final budget and municipal tax levy are adopted. The council may revise the proposed <br /> budget but no amendment to the budget shall increase the authorized expenditures to an <br /> amount greater than the estimated funds available. The council shall adopt the budget by <br /> a resolution that shall set forth the total for each budgeted fund and each department, <br /> function or program, with such segregation as to objects and purpose of expenditures as <br /> — the council deems necessary for purposes of budget control. The council shall also adopt <br /> a resolution levying the amount of taxes provided in the budget, and the clerk= <br /> inis ator shall certify the tax resolution to the county auditor in accordance with state <br /> — law. Adoption of the budget resolution shall constitute appropriations at the beginning of <br /> the fiscal year of the sums fixed in the resolution of the several purposes named. <br /> 13 <br />