Page 65 - CityofEulessFY26AdoptedBudgetOrdinance2432

EXCERPTS FROM CHARTER
CITY OF EULESS, TEXAS

ARTICLE VII. FINANCE

Sec. 1. Fiscal year.

The fiscal year of the City of Euless shall begin on October first of each calendar year and
will end on September thirtieth 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
become resources of the next succeeding fiscal year.
State law references — Budgets. V.T.C.A. Local Government Code ¶ 102. 001 et scq: fiscal powers. V.T.C.A., Local Government Code ¶ 101. 002.
State law reference — Fiscal Year. V. T. C. A. Tax Code ¶ 1. 05

Sec. 2. Preparation and submission of budget.

The City Manager, prior to August first of each year, shall prepare and submit the budget,
covering the next fiscal year, to the Council, which shall contain the following information. In
preparing the budget, each employee, officer, board, and department shall assist the City
Manager by furnishing all necessary information.

1) The City Manager' s budget message shall outline the proposed financial policies
for the next fiscal year with explanations of any change from previous years in
expenditures and any major changes of policy, and a 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.

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 expenditures deemed necessary for
undertaking during the next budget year and recommended provisions for
financing.

6) A list of capital projects which should be undertaken within the five ( 5) next
succeeding years.
State law reference —Budget, V. T. C.A., Local Government Code ¶ 102. 001 et seq.

Sec. 3 Budget a public record.

The budget and all supporting schedules shall be filed with the City Secretary when
submitted to the Council and shall be open to public inspection by anyone interested.
State law reference — Budget, V.T. C.A., Local Government Code ¶ 102. 001 et seq.

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Ordinance No. 2432, Page 65 of 474