5.02 Budget.

Each department of the city shall provide, in the form and at the time directed by the city manager, all information required by the city manager to develop a budget, including capital accounts, conforming to modern budget practices and procedures as well as specific information which may be prescribed by the council. At least 30 days before the commencement of a fiscal year, the city manager shall prepare and present to the council in such form and manner as it may prescribe budget recommendations for the next succeeding fiscal year. Following a public budget hearing, the council shall adopt by resolution a budget of proposed expenditures and appropriations necessary therefor for the ensuing year, failing which the appropriations and budget for the fiscal year shall be deemed effective in the new fiscal year until the new budget and appropriation measures are adopted.