A. On or before the third Tuesday in June of each year, the City Manager shall prepare, or cause to be prepared, a careful estimate, in writing, of the amounts of money, specifying in detail the objects thereof, required for the business and conduct of the affairs of the City during the next ensuing fiscal year, stating in detail the amount required to meet all expenditures necessary for City purposes including interest and sinking funds for outstanding indebtedness, if there is any. He shall also prepare or cause to be prepared an estimate of the amount of income expected from all sources from every department and the probable amount required to be raised by taxation to cover such expenditures, interest and sinking funds.

B. The Council shall meet at its usual place of holding meetings on or before June 30 of each year and make a budget of the estimated amounts required to pay the expenses of and to conduct the City government for the ensuing fiscal year. The budget shall be prepared so as to show the aggregate sum and in detail the items thereof allowed to each department, office and subdivision of the City government. The budget shall also contain an estimate of the receipts for the previous year and an estimate of the receipts for the ensuing year from sources other than direct property taxation and the amount proposed to be raised by taxation upon the real and personal property within the City. The budget shall be published in the official newspaper of the City for at least two publications and the Council shall meet at its usual place not later than the third Tuesday in July, when and where any taxpayer who may appear shall be heard in favor of or against any proposed tax levies, and upon such hearing the Council may modify or amend any items of expenditures in the proposed budget, and after the conclusion of such hearing the Council shall adopt the proposed budget as finally corrected, as the City budget for the ensuing year. (Ord. No. G-5444, § 2, 2009)