75 - Annual estimate.

§ 75. Annual  estimate.  Within  sixty  days after the commencement of  each fiscal year, the board of estimate and apportionment shall make  an  itemized   statement,   in   writing,  of  the  estimated  revenues  and  expenditures of the city for the fiscal year, which shall  be  known  as  its  annual  estimate,  provided, however, that if in the city the taxes  for state, county and city purposes are included in one levy, the common  council may, by ordinance, direct that the said estimate be made  within  sixty  days  prior to the commencement of such fiscal year. The estimate  of revenues shall contain an estimate of the probable revenues which, in  the judgment of  the  board  of  estimate  and  apportionment,  will  be  received by the city during the fiscal year, less the amount required to  be  deposited  to the credit of the sinking fund, if any; a statement of  the amount of the sinking fund which, in the judgment of  the  board  of  estimate  and  apportionment,  is available and should be applied to the  payment of the principal of any bonded indebtedness of the city  falling  due  during  the  said  fiscal  year;  and a statement of all unexpended  balances or estimated unexpended balances of the  previous  fiscal  year  remaining  to  the  credit  of  the  city,  or  of  any office, board or  department  thereof.  The  estimate  of  expenditure  shall  contain  an  estimate of the several amounts of money which the board of estimate and  apportionment  deems necessary to provide for the expenses of conducting  the business of the city in each board, department  and  office  thereof  and  for the various purposes contemplated by this chapter and otherwise  by law for the said fiscal year; to pay the principal  and  interest  of  any bonded or other indebtedness of the city falling due during the said  fiscal  year; and the amount of any judgments recovered against the city  and payable during the said fiscal  year.  After  said  annual  estimate  shall have been completed, the board of estimate and apportionment shall  submit the same in final form to the common council with a statement, in  writing,  of  such  reasons for such estimate as it may deem proper. The  common council shall as soon thereafter as may be possible, convene  and  consider  the  said  estimate.  It  shall  give a public hearing to such  persons as wish to be heard in reference thereto.  After  such  hearing,  and, within thirty days after such estimate shall have been submitted to  it,  the  common council shall adopt such estimate so submitted or shall  diminish or reject any items therein contained, and adopt said  estimate  as  so  amended. The common council shall not have the power to diminish  or reject any item  which  relates  to  salaries,  the  indebtedness  or  estimated  revenues, or the sums directed by the board of supervisors of  the county within which the city is situated to  be  levied  within  the  city  for state and county purposes, or the sums lawfully payable within  said fiscal year upon judgments; nor shall the common  council  increase  any item, for any purpose contained in said estimate.    In  a  year  when  a  special  city  election  may  be  held under the  provisions of the city local option  law,  the  board  of  estimate  and  apportionment  shall  include  in  the  annual  estimate  an estimate of  probable revenues from the excise tax based upon the  number  of  liquor  licenses in force, if any, in such city at the time such annual estimate  is  made;  and in case there are no liquor licenses in force at the time  the annual estimate is made, the board  of  estimate  and  apportionment  shall  omit  from  the annual estimate any estimate of probable revenues  from the excise tax and include as its  estimate  of  probable  revenues  only  those derived from other sources. If such election be held and the  result thereof alters the probable  revenues  from  the  excise  tax,  a  supplemental estimate shall be made and filed, revising and supplying or  striking out, according to the result of the election, any items omitted  or  included  therein upon the basis of there being probable revenues or  no probable revenues from such tax. Such supplemental estimate, if  any,shall  be  made  and filed as soon as practicable after such board shall  ascertain the necessary facts and not later than the completion  of  the  tax budget in time for the annual tax levy as provided by law. On demand  by such board, the secretary of the board of canvassers shall certify as  to  the  result  of  the  vote at any such election. In any case where a  special election or the result of a  vote  thereat  is  the  subject  of  judicial proceedings a county clerk in whose office an order is filed or  entered  affecting  such election or vote shall notify such board of the  filing  or  entry  of  the  order  immediately  thereafter.   Any   such  supplemental  estimate shall be deemed a part of the annual estimate and  amendatory thereof.