Copyrighted by MIDLAND CHARTER & Municipal Code Corporation, 1998.

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Chapter 11.
General Finance and Budget Procedure

Sec. 11.1. Fiscal year.

The fiscal and budget year of the city shall begin on the first day of July.

Sec. 11.2. Budget procedure.

Each city officer and department head shall submit to the City Manager upon his request an itemized estimate of the expenditures for the next fiscal year, for the department or activities under his control. The City Manager shall prepare a complete itemized budget for the next fiscal year and shall submit it to the Council on or before the second Monday in April.

Sec. 11.3. Budget document.

The budget document shall present a complete financial plan for the ensuing fiscal year. It shall include at least the following information:

(a) Detailed estimates of all proposed expenditures for each department and office of the city, showing the expenditures for corresponding items for the current and last preceding fiscal years, with reasons for increases and decreases recommended, as compared with appropriations for the current year;

(b) Statements of the bonded and other indebtedness of the city, showing the debt redemption and interest requirements, the debt authorized and unissued, and the condition of sinking funds, if any;

(c) Detailed estimates of all anticipated income of the city from sources other than taxes and borrowing, with a comparative statement of the amounts received by the city from each of the same or similar sources for the last preceding and current fiscal years;

(d) A statement of the estimated balance or deficit, as the case may be, for the end of the current fiscal year;

(e) An estimate of the amount of money to be raised from current and delinquent taxes and the amount to be raised from bond issues which, together with income from other sources, will be necessary to meet the proposed expenditures;

(f) Such other supporting schedules as the Council may deem necessary.

State law reference(s)--Charter to provide for annual appropriation, M.S.A., § 5.2073(h).

Sec. 11.4. Budget hearing.

A public hearing on the budget shall be held before its final adoption, at such time and place as the Council shall direct, and notice of such public hearing shall be published at least one (1) week in advance by the Clerk in the manner authorized in Section 5.11 of this charter. A copy of the proposed budget shall be on file and available to the public for inspection during office hours at the office of the Clerk for a period of not less than one (1) week prior to such public hearing.

Constitution reference--Public hearing required previous to adoption of budget, Art. VII, § 32.

Sec. 11.5. Adoption of budget, tax limit.

Not later than the fourth Monday in May, the Council shall, by resolution, adopt the budget for the next fiscal year and shall, in such resolution, provide for a levy of the amount necessary to be raised by taxes upon real and personal property for municipal purposes, which levy shall not exceed one and eight-tenths (1.8) per cent of the assessed valuation of all real and personal property subject to taxation in the city.

State law reference(s)--Charter to provide for taxation of real and personal property not to exceed 2% of value, M.S.A., § 5.2073(g).

Sec. 11.6. Alteration of appropriations.

After the budget has been adopted, no money shall be drawn from the treasury of the city nor shall any obligation for the expenditure of money be incurred, except pursuant to the budget appropriation. The Council may, however, transfer any unencumbered appropriation balance, or any portion thereof, from one department, fund or agency to another purpose for which an appropriation has been made or, after the holding of a public hearing after at least one week's notice of same published in accordance with Section 5.11 of this Charter, authorize the transfer of unused balances appropriated for one purpose to another purpose for which no appropriation was made in the budget or appropriate available revenues not included in the annual budget. The balance in any budget appropriation, which has not been encumbered, other than that of or pertaining to any municipal utility, at the end of the fiscal year, shall revert to the general fund and be reappropriated during the next fiscal year.

(Amd. of 8-5-75)

Sec. 11.7. Budget control.

At the beginning of each quarterly period during the fiscal year, and more often if required by the Council, the City Manager shall submit to the Council data showing the relation between the estimated and actual income and expenses to date; and if it shall appear that the income is less than anticipated, the Council may reduce appropriations, except amounts required for debt and interest charges, to such a degree as may be necessary to keep expenditures within the cash income.

Sec. 11.8. Depository.

The Council shall designate the depository or depositories for city funds, and shall provide for the regular deposit of all city moneys. The Council shall provide for such security for city deposits as is authorized or permitted by the general laws of the state, except that personal surety bonds shall not be deemed proper security.

Sec. 11.9. Withdrawal of funds.

All funds drawn from the treasury shall be drawn pursuant to the authority and appropriation of the Council and upon checks signed by two officers of the city to be registered by resolution of the Council. Each such check shall specify the fund or funds for which it is payable and shall be paid from no other fund or funds.

Sec. 11.10. Independent audit.

An independent audit shall be made of all accounts of the city government at least annually and more frequently if deemed necessary by the Council. Such audit shall be made by qualified accountants experienced in municipal accounting and completed within the time required by state law. The results of such audit shall be made public in such manner as the Council may determine.

(Amd. of 8-11-97(2))

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