(a) The budget proposal of the City Manager shall be reviewed by the Council and shall be available for public inspection in the office of the City Clerk.

(b) The Council shall direct that a public hearing on the budget proposal be held not less than one week before its final adoption. A notice of the public hearing shall be published in a newspaper by the City Clerk at least one week prior to the date of hearing.

(c) At a regular meeting held not less than ten days prior to the end of the fiscal year, the Council shall, by resolution, adopt a budget for the following fiscal year and make an appropriation of the money needed therefor.

(d) If the Council does not adopt a budget prior to the third day preceding the commencement of the next fiscal year, the budget proposal shall become an appropriation and the budget for the fiscal year without further Council action.