Annual budget.
Section 31
SEC. 31. Annual budget.—At least four months before the beginning of each fiscal year the city treasurer-assessor shall present to the City Mayor a certified detailed state-ment by department of all receipts and expenditures of the city pertaining to the preceding fiscal year, and to the first seven months of the current fiscal year together with an estimate of the receipts and expenditures for the remainder of the current fiscal year; and he shall submit with this statement a detailed estimate of the revenues and receipts of the city from all sources for the ensuing fiscal year. Upon receipt of this statement and estimate and the statements of heads of city offices as required by section twelve of this Charter, the City Mayor shall formulate and submit to the City Council at least two and a half months before the beginning of the ensuing fiscal year, a detailed budget covering the estimated necessary expenditures for the said ensuing fiscal year, which shall be the basis of the annual appropriation ordinance: Provided, however, That in no case shall the aggregate amount of such appropriation exceed the estimate of revenues and receipts submitted by the city treasurer-assessor as provided above: Provided, further, That not more than fifty per cent of the expected revenue of the city for any fiscal year shall be appropriated for the payment of salaries and wages of officials and employees of the city government for the said fiscal year.