Budget Development
The budget process is year-round as staff is required to monitor and adjust , the current year budget until the end of the fiscal year in June . This ensures that Departments stay within their appropriation and allows staff to recommend one-time adjustments to meet unanticipated requirements , to recognize unanticipated revenues and to meet future obligations . In addition , Council provides guidance to senior management on budget priorities as issues and initiatives arise . This provides senior management with enough time to review issues and to identify solutions , in advance of the budget development process .
Operating Budget Process
The formal budget process begins each December when senior management meets to review the base budget to address the Town ’ s budget priorities and departmental needs . Budget kickoff is held in December to update departments on the base budget and outline requirements for the upcoming process . Departments are asked to prepare expansion requests for the operating budget for the next fiscal year . In addition , Departments are tasked with reviewing their future needs and identifying all significant new requests for a five-year period .
In February , staff prepares a financial update with Council to share projected revenue forecasts and base operating budget needs . This allows Council to provide additional guidance based on both current and future budget needs . Departmental operating budget requests are due in late January . During this time , senior management refines revenue projections and salary and benefit information . These numbers are further refined in March .
Budget staff review and analyze new requests with each department . This information is shared with the Budget Team who then reviews the information , meets with departments , considers available revenues and reaches decisions necessary to prepare a proposed budget . The Town holds its first public hearing on the budget in April and provides an online comment portal to seek public input and feedback on the proposed budget . The online comment portal provides 24 / 7 engagement with residents on budgetary priorities and considerations .
In May , the Town Manager proposes a balanced budget to Town Council at a Regular Council Meeting . The Town also holds its second public hearing after the Town Manager proposes the budget to provide the public further opportunity to provide feedback . Town Council holds its budget work session to review the proposed budget in mid-May . In June , Town Council adopts the final budget ordinance with balanced revenues and expenditures and sets the tax rate and fee schedule for the next fiscal year .
Budget Amendments
After the budget has been adopted , the approved budget may be changed at any time through a Budget Amendment . The process for a Budget Amendment generally begins with a request from the affected department to budget staff . The Budget Director reviews the request for consistency with Town Council goals and is weighed against other Town needs and the availability of funding . Upon approval by the Budget Director , the request and justification are presented to Town Council at a public meeting for final approval . This process aligns with the Budget Development Policies located in the Town ’ s Fiscal & Budgetary Policy Guidelines .
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