Section 237. Report of independent budget office on revenues and expenditures

On or before the first day of February, the  director  of  the  independent  budget  office shall publish a report, for the ensuing
  fiscal  year,  with  respect  to  expected  levels   of   revenues   and
  expenditures,  taking  into  account  projected economic factors and the
  proposals contained in the preliminary budget submitted by the mayor for
  such fiscal year. Such report shall also include a  discussion  of  city
  budget  priorities,  including  alternative ways of allocating the total
  amount of appropriations, expenditures and commitments for  such  fiscal
  year  among  major programs or functional categories taking into account
  how such alternative allocations will meet major city needs  and  effect
  balanced growth and development in the city.