Burbank Municipal Code Art. 10 Finances and Budget

The fiscal year of the City shall commence on the first day of July of each year, or at such other time as may be fixed by ordinance. (Previous Section 40; renumbered by Charter Amendment approved by the voters on April 10, 2007.)

On or before the first day of June the City Manager shall prepare, or have prepared, a proposed budget and submit it to the City Council with appropriate recommendations.

The budget shall include estimates of the sources and uses of available funds for the following fiscal year. These estimates shall be compiled from detailed information obtained from the various departments. Terminology and classifications used shall be uniform in accordance with generally accepted accounting practices. The budget shall include:

1. An itemization of all anticipated revenues of the City.

2. A statement of the proposed use of funds for the following fiscal year.

3. Comparisons of current and prior year sources and uses of the funds.

4. The total amount of City debt outstanding.

5. A statement of the amounts which should be appropriated to pay all principal and interest payments on debts of the City and all its related entities.

6. An item to be known as “unappropriated balance” which sum shall be available for appropriation later in the fiscal year to meet contingencies which might arise.

7. A capital budget of proposed activities, developments, and improvements listed by category and specifying the anticipated sources of funding.

8. Such other information as may be required by the Council or which the City Manager may deem advisable to submit.

Sufficient copies of the proposed budget shall be prepared and printed that there be one (1) copy furnished each member of the Council and the City Clerk shall have sufficient copies for the inspection of the public. The Council may also provide for the printing and issuing of the adopted budget.

The Council shall have the power to revise, correct, or modify the proposed budget in any particular.

After considering the proposed budget, the Council shall fix a time for holding a public hearing upon the proposed budget and shall publish notice of the time fixed for the hearing one (1) time in a newspaper of general circulation at least ten (10) days before the time of the hearing. After the hearing, the Council may further modify or correct the proposed budget, and shall by resolution, adopted by a majority of the members of the Council adopt the budget, and authorize the tax levy required to provide funding for those uses identified for the fiscal year less the amounts to be raised by bond issues and revenues collected or transferred from other sources.

At any meeting after the adoption of the budget, the Council, by majority vote, may amend or supplement the budget so as to authorize the transfer of unused balances appropriated for one purpose to another, or to appropriate available revenue not included in the annual budget at its passage. (Previous Section 38; renumbered by Charter Amendment approved by the voters on April 10, 2007.)

The incurring of any general obligation bonded indebtedness of the City shall require the votes of two thirds (2/3) of the voters voting at a special election to be held for that purpose; provided, however, that when two (2) or more propositions for incurring any bonded indebtedness are submitted at the same election the votes cast for and against each proposition shall be counted separately and when two thirds (2/3) of the voters voting on any one of such propositions vote in favor thereof such proposition shall be deemed adopted. Such special election may be consolidated with any municipal, county, state or other election.

Before or at the time of incurring such bonded indebtedness, provision shall be made as required by the Constitution of the State of California for the collection of an annual tax sufficient to pay the interest on such bonded indebtedness as it falls due and also to constitute a sinking fund for the payment of the principal on or before maturity. The Council may at any time use, for the payment of principal or interest of such bonds, revenues derived from sales or use taxes or any other revenues or income of the City not allocated to, set aside for, or required to be used for a special purpose or constituting a special or trust fund.

The provisions of this section shall not apply to revenue bonds issued pursuant to the provisions of the laws of the State of California or procedural ordinance of the City and payable solely from the revenues of a revenue producing system or facility of the City, and nothing in this section or elsewhere in this Charter shall authorize the use of any revenues of any revenue producing system or facility of the City in any manner or for any purpose contrary to a covenant or agreement contained in any ordinance, resolution or other proceeding (whether taken or adopted before or subsequent to the adoption of this section) authorizing the issuance of revenue bonds payable from the revenues of such revenue producing system or facility. (Previous Section 43; amended and renumbered by Charter Amendment approved by the voters on April 10, 2007.)

All moneys collected for the City by an officer or department thereof shall be paid into the treasury daily at the direction of the City Treasurer. (Previous Section 45; renumbered by Charter Amendment approved by the voters on April 10, 2007)

Despite any other provisions of this Charter, demands against the City shall be presented, numbered and allowed or disallowed and warrants shall be numbered, dated, issued and signed as prescribed by ordinance. No demand shall be allowed, approved, audited or paid unless it shall specify each item of the claim and the date submitted. (Previous Section 46; amended and renumbered by Charter Amendment approved by the voters on April 10, 2007.)

All moneys derived from the sale of bonds, including premiums and accrued interest, shall be applied only to the purposes for which the bonds were voted. After such purposes have been fully completed and paid for, any remaining surplus shall be transferred to the bond interest and redemption fund. (Previous Section 47; re-numbered by Charter Amendment approved by the voters on April 10, 2007.)

The City shall use a uniform chart of accounts, which shall be observed by all officers and departments of the City which receive or disburse City moneys. (Previous Section 48; amended and renumbered by Charter Amendment approved by the voters on April 10, 2007.)

The Council shall employ an independent certified public accounting firm to annually provide a full scope audit of the books and records of all funds and entities of the City of Burbank, and present its report to the City. (Previous Section 52; amended and renumbered by Charter Amendment approved by the voters on April 10, 2007.)

Annual audited financial reports shall be submitted to the Council by the City Manager in such form as may be approved by the Council, and monthly financial reports shall be maintained by and available for public inspection in the Financial Services Department. (Previous Section 49; renumbered by Charter Amendment approved by the voters on April 10, 2007.)

Every officer who shall willfully and knowingly approve, allow or pay any demand on the treasury not authorized by law, shall be liable to the City individually and on such officer’s official bond for the amount of the demand so approved, allowed or paid, and shall forfeit such office and be forever disbarred and disqualified from holding any position in the service of the City. (Previous Section 51; renumbered by Charter Amendment approved by the voters on April 10, 2007)