Section 1515. Statement and estimate by the mayor

a. The mayor shall
  prepare and submit to the council, immediately upon the  adoption  of  a
  single  budget  pursuant  to section two hundred fifty-four, a statement
  setting forth the amount of the budget as approved by  the  council  for
  the  ensuing  year and the mayor shall prepare and submit to the council
  not later than the fifth day of June an estimate of the probable  amount
  of (1) receipts into the city treasury during the  ensuing  fiscal  year
  from all the sources of revenue of the general fund and (2) all receipts
  other  than  those  of the general fund and taxes on real property.  The
  mayor may include in the statement  of  the  amount  of  the  budget  as
  approved by the council a confirmation of such amount, and thereby waive
  mayoral veto power pursuant to section two hundred fifty-five.
    b.    If,  as a result of the exercise of the mayor's veto pursuant to
  section two hundred fifty-five, the amount of the budget for the ensuing
  fiscal year differs from the  amount  of  the  budget  approved  by  the
  council  pursuant  to section two hundred fifty-four, not later than two
  days after the budget is finally adopted the  mayor  shall  prepare  and
  submit to the council a statement setting forth the amount of the budget
  for  the  ensuing  year,  and  the  council shall, if necessary, fix new
  annual tax rates pursuant to subdivision c of section one thousand  five
  hundred sixteen.
    c.    The  mayor, prior to establishing the final estimate of revenues
  for the ensuing fiscal year as required by this section, shall  consider
  any  alternative  estimate  of  revenues  which is submitted pursuant to
  subdivision d of this section and which is accompanied by a statement of
  the methodologies and assumptions upon which such estimate is  based  in
  such   detail   as  is  necessary  to  facilitate  official  and  public
  understanding of such estimates.
    d.  Any person or organization may, prior to the fifteenth day of May,
  submit to the mayor an official alternative  estimate  of  revenues  for
  consideration  by  the  mayor  in  accordance with subdivision c.   Such
  estimate shall be in a form prescribed by the mayor.