§ 8.03. Preparation and submission of budget.

The City Manager, between 60 and 120 days prior to the beginning of each fiscal year, shall submit to the Council a proposed budget, which shall provide a complete financial plan for the fiscal year and shall contain the following:

A.

A budget message which shall contain an explanation of the budget and an outline of the proposed financial policies of the City for the fiscal year; shall set forth the reasons for salient changes from the previous fiscal year in expenditures and revenue items; and shall explain any major changes in financial policy.

B.

A consolidated statement of anticipated receipts and proposed expenditures for all funds.

C.

A review and analysis of property valuations.

D.

An analysis of tax rates.

E.

The tax levies and tax collections by years for at least the immediate past five years.

F.

The general funds resources in detail.

G.

The special funds resources in detail.

H.

A summary of proposed expenditures by function, department, and activity with detailed estimates of expenditures shown separately for each activity to support the summary.

I.

A revenue and expense statement for all types of bonds, time warrants and other indebtedness.

J.

A description of all bond issues, time warrants, and other indebtedness outstanding, showing rate of interest, date of issue, maturity date, amount authorized, amount issued, and amount outstanding.

K.

A schedule of requirements for the principal and interest of each issue of bonds, time warrants, and other indebtedness.

L.

The appropriation ordinance.

M.

The tax levying ordinance.

N.

The total monies in all reserves (designated, undesignated, and debt) shall not exceed the budgeted City expenditures for the fiscal year. Likewise, the total monies included in all reserves shall not be less than one quarter of the budgeted City expenditures for a fiscal year.

The total proposed expenditures shall not exceed the total of estimated resources.

(Rev. of 5-6-1995)

State law reference

Municipal budget, V.T.C.A., Local Government Code ch. 102.