Annual budgets are legally adopted on a basis consistent with generally accepted accounting principles for all governmental funds except the capital projects fund. The capital project fund adopts project length budgets. The City Manager is authorized to transfer budgeted amounts within departments; however, any revisions that alter the total expenditures of a department must be approved by the City Council. Budgeted amounts reported in the annual audited financial statements represent the final amended budget approved by the Council or as prescribed under GACB 34 for the fiscal years ending after September 30, 2003. The following procedures are used by the City in establishing the budgetary data reflected in the financial statements and the annual audited financial statements:
Prior to August 6th each year, the City Manager is required to submit a proposed budget to the City Council. The operating budget includes proposed expenditures and the means of financing them.
Advertised public hearings are conducted.
The budget is required to be approved by September 20th of every year.
The tax rates are approved after the budget has been approved.
The budget may be amended as considered necessary. The budget and tax rates are enacted through the passage of ordinances.