Page 7 - Pantego FY22 Operating Budget

READER’S GUIDE

The Reader’s Guide provides an overview of the Town of Pantego’s budget process and budget
documents. A budget is a vital tool for establishing policy and maintaining control over the
management of public funds. The Town of Pantego has prepared a budget designed to meet
the highest standard of performance in municipal budgeting. This document provides a
summary of all budgeted funds, including both revenue and expenditure summaries. Major
budget documents, the budget process and the organization of the budget itself are described
below.

MAJOR BUDGET DOCUMENTS

The Town of Pantego’s budget process includes the production of three (3) key documents. It is
important to understand the timing and purpose of these documents in order to fully understand
the budget process.

1. Budget Preparation Manual

A budget preparation manual is prepared by the Finance department in May in
anticipation of the budget kickoff meeting in early June. The budget process is reviewed
each year and any improvements or modifications to the process are incorporated during
the planning of the following fiscal year’s budget. The purpose of the Budget Preparation
Manual is to provide directive, instructions and information to the department heads to
enable them to submit proposed base budgets, and supplemental service
requests/enhancements for the upcoming fiscal year. The document includes a budget
calendar, budget meeting schedule, descriptive chart of accounts, forms and general
instructions designed to assist in the budget preparation.

2. The Proposed Budget

A proposed budget document is submitted to Council in July. The proposed budget is
prepared by the Finance department with the cooperation of the City Manager and the
Management Team, which is comprised of the department heads. During the budget
process, each department head reviews and discusses budgetary needs and priorities
with the City Manager. This document represents a balanced version of departmental
budget requests versus projected annual operating revenues and funding
recommendations from the City Manager.

3. The Adopted Budget

The adopted budget represents a modified version of the proposed budget after Town
Council review and public hearings in August and September. Any changes deemed
necessary by Town Council to funding levels, approval of supplemental requests or
revenue projections are reflected in the adopted budget document. The budget, budget
message and all supporting schedules shall be in a public record in the office of the City
Secretary and shall be available to the public for inspection upon request. An electronic
copy of the adopted budget will also be available on the Town’s website.

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