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12.3 Scope of Budget

The proposed and the adopted budget for the ensuing fiscal year shall include but not be limited to the following:

(a) An estimate of anticipated revenues from all sources;

(b) An estimate of cash available, if any, as of December 31 of the present fiscal year;

(c) An estimate of proposed expenditures necessary for the operation of the City;

(d) The expenditures necessary for debt service;

(e) The proposed capital expenditures and methods of financing such expenditures;

(f) An estimate of the amount required to be raised from an ad valorem property tax levy, and

(g) The balance between total estimated expenditures and total anticipated revenues, including surpluses.