THEODORE R. MCKELDIN, GOVERNOR 599

have custody of all bonds and certificates of City indebtedness,
including such bonds and certificates unissued or canceled, and
the receipt, registration, and delivery of City bonds and certifi-
cates.

4. To perform such other duties as the Council may by ordi-
nance prescribe or the City Manager may direct.

1. (Fiscal Tear. ) The fiscal year of the City Government
shall begin on the first day of July and end on the last day of
June. Such year shall constitute the budget year of the City
Government.

J. (The City Budget. ) 1. (Scope of the Budget. ) The budget
for the City Government shall present a complete financial
plan for the ensuing fiscal year. It shall set forth all proposed
expenditures for the administration, operation, and mainte-
nance of all offices and agencies of the City government and
any other agency for which appropriations are made or taxes
levied by the City; all expenditures for capital projects to be
undertaken or executed during the fiscal year; all interest and
debt redemption charges payable during the fiscal year; and
any actual or estimated deficits from prior fiscal years. In
addition thereto the budget shall set forth the anticipated
revenues and other means of financing the total proposed ex-
penditures of the City government for the fiscal year.

2. (The Budget Document. ) The Budget document shall
consist of two parts, as follows:

Part I shall contain: (1) a budget message prepared by the
City Manager, which shall outline a fiscal program for the City
government, describing therein the important -features of the
budget with reference both to the proposed expenditures and
to anticipated income; and (2) a general budget summary,
which shall exhibit the aggregate figures of the budget in such
manner as to show the relation between the total proposed ex-
penditures and the total anticipated income for the fiscal year
covered by the budget, and compare these figures with the cor-
responding figures for the last completed year and the year in
progress.

Part II shall contain: (1) detailed estimates of all proposed
expenditures, showing the corresponding expenditures for each
item for the current year and the preceding fiscal year, with
explanations of increases or decreases recommended as com-
pared with appropriations for the current fiscal year; the total
of the proposed expenditures shall not exceed 90% of the esti-
mated revenues of the City, including the balance from the pre-
ceding fiscal year; the remaining 10% of said estimated reve-