(1) To establish standard procedures for the preparation, presentation, administration and appraisal of budgets of municipal corporations;
(2) To provide for a brief description of the programs of a municipal corporation and the fiscal policy which is to accomplish these programs;
(3) To provide for estimation of revenues, expenditures and proposed taxes;
(4) To provide specific methods for obtaining public views in the preparation of fiscal policy;
(5) To provide for the control of revenues and expenditures for the promotion of efficiency and economy in the expenditure of public funds; and
(6) To enable the public, taxpayers and investors to be apprised of the financial policies and administration of the municipal corporation in which they are interested. [1963 c.576 §2; 1997 c.308 §4; 1997 c.541 §323]