Section 50. - System for revenue collections.
Section 50. - System for revenue collections.
Except as otherwise provided by the general revenue laws of the State and this Charter, the mayor and council shall by ordinance provide for the collection, custody and disbursement of all public monies, from whatever sources derived, and establish as near as may be a uniform system of municipal accounting.
On or before the first Tuesday of each fiscal year, or at such other times as the mayor and council may by ordinance require, the city manager shall submit in writing to the mayor and council an annual budget for the ensuing year, giving detailed estimates of the needs and requirements of the several departments and other divisions of the City government, according to a classification as nearly uniform as possible, and the amounts required for the proper conduct of the various departments and divisions of the City government for the ensuing fiscal year; said budget shall present the following information:
A.
An itemized statement of the appropriations recommended by the city manager for current expenses and for permanent improvements for each department and each division thereof for the ensuing fiscal year, with comparative statements in parallel columns for the appropriations and expenditures of the current year, and the increases or decreases in the appropriations recommended.
B.
An itemized statement of the taxes required, and of the estimated revenues of the City from all other sources, for the ensuing fiscal year, with a comparative statement in parallel columns of the taxes and other revenues for the current year, and of the increases estimated or proposed.
C.
A statement of the amount of revenue needed to create a sinking fund to be used; 1st, for the payment of interest coupons as they fall due; 2nd, for the payment of bonds as they fall due; 3rd, for the payment of such parts of judgments as the City may be by law required to pay.
D.
A statement of the financial condition of the City.
E.
Such other information as may be required by the mayor and council. (Amended General Election, April 5, 1977).
The mayor after determining the amount necessary to maintain the City government for the ensuing fiscal year, shall at such time and in the manner provided by law certify to the County Excise Board a Financial Statement and Estimate, showing the amounts necessary to be raised by taxation for the several funds and the amounts required in each fund.