DeSoto FY21----FY22-Approved-Budget


Article VII of the DeSoto City Charter sets out the following requirements: Article VII Section 1. Fiscal Year.

The fiscal year of the City of DeSoto shall begin on October 1 st of each calendar year and will end on September 30 th of the following calendar year. The fiscal year will also be established as the accounting and budget year. All funds collected by the City during any fiscal year including both current and delinquent revenue shall belong to such fiscal year and, except funds derived to pay interest and create a sinking fund on the bonded indebtedness of the City, may be applied to the payment of the expenses incurred during such fiscal year. Any revenues uncollected at the end of any fiscal year, and any unencumbered funds actually on hand, shall The City Manager, prior to August 1 st of each year, shall prepare and submit the budget, covering the next fiscal year, to the Council, which shall contain the following information: 1) The City Manager’s budget message shall outline the proposed financial policies for the next year with explanations of any change from previous years in expenditures and any major changes of policy and complete statement regarding the financial conditions of the City. 2) An estimate of all revenue from taxes and other sources, including the present tax structure rates and property evaluation for the ensuing year. become resources of the next succeeding fiscal year. Section 2. Preparation and Submission of Budget. 3) A carefully itemized list of proposed expenses by office, department, agency, employee and project for the budget year, as compared to actual expenses of the last ended fiscal year, and the present year-to-date. 4) A description of all outstanding bond indebtedness, showing amount, purchaser, date of issue, rate of interest, and maturity date, as well as any other indebtedness which the City had incurred and which has not been paid. 5) A statement proposing any capital expenditure deemed necessary for undertaking during the next budget year and recommended provisions for financing. 6) A projected list of capital projects which should be undertaken within the five (5) next succeeding years. 7) All funds without exception are to be included in the annual budget document; and 8) In preparing the budget, each employee, officer, board and department shall assist the City Manager by furnishing all necessary information.


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