§ 7.2. Proposed Budget.

The Mayor, with the assistance of the Director of Finance shall prepare a budget for the City, and the Mayor shall submit such budget to the Board of Apportionment and Taxation and Board of Aldermen in joint session, not later than March 22 of each year. Such budget shall contain the following:

(a)

A budget message outlining the fiscal policy of the City and describing the important features of the budget, and indicating any major changes from the current fiscal year, together with the reasons for such changes, and containing a summary;

(b)

Estimates of revenue, presenting in parallel columns, or any other appropriate budget format established by the Director of Finance, the itemized receipts collected during the current fiscal year prior to the date of the proposed budget, estimates of the total receipts to be collected during the current fiscal year, estimates of the total receipts, other than from the property tax to be collected in the ensuing fiscal year, and an estimate of available surplus for the current year;

(c)

Itemized estimates of expenditures, presenting in parallel columns, or any other appropriate budget format established by the Director of Finance, the actual expenditures in each Department for the last completed fiscal year and for the current fiscal year prior to the date of the proposed budget, estimates of the total expenditures for the current fiscal year, and recommendations of the amounts to be appropriated for the ensuing fiscal year for all items together with a tax rate in mills;

(d)

Such other information as may be reasonably required by the Board of Apportionment and Taxation;

(e)

Reasons for the recommendations; and

(f)

Recommended capital projects to be undertaken during the ensuing six (6) fiscal years and methods of financing them. Copies of the proposed budget shall be available to the public.

If the Mayor shall fail to submit a budget under the provisions of this Section, the Finance Director shall, not later than April 1, submit a budget conforming to the requirements of this Section.