The City prepares a biennial budget that is adopted on a basis consistent with generally accepted accounting principles for all governmental funds. All annual appropriations lapse at fiscal year-end.
On or before June 1st of each year, the City Manager shall submit to the City Council an annual budget for the ensuing fiscal year. The City Council holds public hearing and a final budget must be adopted as originally proposed or as amended prior to July 1st.
The appropriate budget is prepared by fund, function, department, division, program and account. The City Manager may make transfers of appropriations between departments, divisions, programs and accounts within funds and departments, but with limits set by the City Council annually. Likewise any new appropriations from the fund balance have to be approved by the City Council. The legal level of budgetary control is by fund (that is, the level at which expenditures may not legally exceed appropriations).