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Finance Compilation and Preparation Procedures. <br />The City Finance Director prepares an estimate of revenues including the property tax revenue <br />based on the Council's tax objectives for the budget year. <br />A review of the budget submittals, include an allocation of capital requests with respect to <br />funding: e.g. items which are replacement in nature and could be funded from the respective <br />replacement funds, or items which are new and would require a property tax levy for a first time <br />purchase. <br />In addition, requests are reviewed in light of departmental goals, city manager policy directions <br />and the City Council's over all objectives. The Finance Team is to discuss any perceived <br />divergence with Departments and if they are not resolved, the Finance Team would discuss the <br />issues with the City Manager and the affected Department. <br />The objective is to have a balanced budget to be presented to the City Council and that the <br />budget has been prepared to not negatively affect net reserve operating balances or to create <br />future financial obligations for which the Council is not prepared to affirm. <br />I -17 <br />