28-16 Submit the Third Amended Charter to the Electors

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The director of finance shall have charge of the administration of the fi- nancial affairs of the city in accordance with Section 44 5.2 BONDS REQUIRED Council shall establish the amount of bond to be given by each officer, clerk or employee in the city government, if any be required, and required bonds shall be given with surety. Premiums on official bonds shall be paid by the city. 5.3 FISCAL YEAR The fiscal year of the city shall begin the first day of January unless other- wise specified by ordinance. 5.4 APPROPRIATIONS No money shall be drawn from the treasury of the city, nor shall any obli- gation for the expenditure of money be incurred, except by appropriations adopted by council. Any monies appropriated shall be used for the speci- fied purposes and these purposes may not be changed without authority from council. No money, from whatever source derived, shall be appropri- ated for use by or at the direction of individual members of council. 5.5 BUDGET DOCUMENT On or before the second city council meeting in November in each year, the director of finance shall prepare an estimate of the expense of conduct- ing the affairs of the city for the following fiscal year. This estimate shall be compiled from detailed information obtained from the various depart- ments and shall set forth at a minimum: (a) an itemized estimate of the expense of operating each department; (b) comparisons of proposed current estimates with the corresponding items of expenditures for the last two completed fiscal years and with an estimate of expenditures necessary to complete the current fiscal year; (c) reasons for proposed increases or decreases in expenditures compared with the current fiscal year; 14