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<br /> 2.5 LCRA .hall prepare and .ub81~ ~o CITY for <br /> con.idera~ion annual budget. in 8 fo~ approved by CITY for the <br /> annual operation and .aintenance of the SYSTEM (hereinafter <br /> -OPERATING BUDGET-) and for annual renewal. and replacements <br /> and .ajor capital i.provement. or addition. (hereinaf~er <br /> -CAPITAL BUDGET-). Each budget .hall be prepared on ~he basis <br /> of CITY's fiscal year and submitted ~o CITY by June 1 prior to <br /> commencement of the applicable CONTRACT YEAR. CITY will <br /> consider the proposed budgets in CITY'. normal budgetary <br /> process and provide LCRA with approved budget. prior ~o ~he <br /> commencement of the applicable CONTRACT YIAR. <br /> The annual OPERATING BUDGET and CAPITAL BUDGET <br /> prepared for the initial CONTRACT YEAR ending September 30, <br /> 1987, shall include budgeted data for September 1986 and will <br /> be submitted to CITY a. soon as practical but not later than <br /> August 15,1986. <br /> Each OPERATING BUDGET will set forth monthly budgeted <br /> amounts, including, but not limited to, labor, material and <br /> supplies, and overhead cost.. Each CAPITAL BUDGET will .et <br /> forth estimated monthly expenditures, by project, including, <br /> but not limited to, labor, .aterials and supplies, and overhead <br /> costs. <br /> -5- <br />