(a) During or prior to the sixth week preceding the first day of the fiscal year, the City Administrator presents to Council a budget proposal for the next fiscal year. Such budget proposal shall set forth the City Administrator’s recommendations, and be accompanied by an analysis of the anticipated income and expenditures of the City during the next fiscal year, together with comparative figures showing the estimated corresponding amounts for the current year and comparisons with the previous year.

(b) The proposed budget shall project the ending level of fund balance greater than the amount calculated in 7.25.050(a) but less than the amount calculated in 7.25.060(a) in a period of not more than three (3) years inclusive of the proposed budget year.

(c) Should the proposed budget project to expend any amount of fund balance for recurring expenditures, the City Manager must also present a plan demonstrating future revenues, either new or from existing sources, will be sufficient to support the recurring expenditures within three (3) years, inclusive of proposed budget year.

(d) Should the proposed budget project to expend any amount of fund balance for a one-time expenditure, the City Manager must present a plan to assure compliance with section 7.25.010(b).

(e) The budget proposal shall be reviewed by the Council and be available for public inspection at the City Clerk’s office.

(f) The Council shall set a date for a public hearing on the budget proposal. Notice of the hearing shall be published in a newspaper of general circulation in the City not less than one (1) week before the hearing.

(g) After the public hearing and not later than the tenth day of June, the Council shall, by ordinance, adopt a budget for the following fiscal year and make an appropriation of the money needed therefor, and shall, by resolution, fix the rate of levy of tax in accordance with KMC 7.05.010(b).