Section 13-1302 - Preparation and submission(a) The City Manager and Superintendent of Schools shall prepare the budgets for the City and School District, respectively, and submit same to the Council and Board of School Directors at such time as required by said boards. The budgets shall contain: (1) an estimate of the financial condition of the City and School District as of the end of the fiscal year;(2) an itemized statement of appropriations recommended for current expenses, and for capital improvements during the next fiscal year, with comparative statements in parallel columns of appropriations and estimated expenditures for the current fiscal year and actual appropriations and expenditures for the next preceding fiscal year;(3) an itemized statement of estimated revenues from all sources, other than taxation, for the next fiscal year; a statement of taxes required for the next fiscal year; and comparative figures of tax and other sources of revenue for the current and next preceding fiscal years;(4) a capital budget for the next five fiscal years, showing anticipated capital expenditures, financing, and tax requirements;(5) such other information as may be required by the Council and the Board of School Directors, respectively.(b) The Council and the Board of School Directors shall cause copies of the proposed budgets to be delivered to each member of the Steering Committee forthwith after the final preparation of the budgets but not less than 45 days prior to the date of the annual City and School District meeting. The Steering Committee may hold a meeting for the review of such budgets, giving notice of the meeting as required in section 1102 of this charter. No less than 35 days prior to the annual City and School District meeting, the Steering Committee may submit to the Council and the Board of School Directors its report and recommendations concerning the proposed budgets.(c) The Council shall warn the City budget for submission to the voters not less than 30 days before the annual City meeting, and in the same manner, the Board of School Directors shall warn its budget for submission to the voters.24 Appendix V.S.A. § 13-1302