Page 9 - Pantego FY22 Operating Budget

3. Public Hearings / Budget Adoption. One (1) public hearing on the proposed budget
and one (1) public hearing on the tax rate (if required by Truth in Taxation laws) are held
in August and/or September prior to the final budget consideration. At the public
hearings, citizens may make formal comments concerning the proposed budget. The
public also has the opportunity to attend Town Council budget work sessions in July,
August and September.

Budget adoption occurs in September after Town Council deliberations and the public
hearings. The Town Council adopts a tax rate to support adopted funding levels. If
Council fails to adopt a budget by the beginning of the fiscal year, the budget currently in
place for the preceding year shall remain in place on a month-to-month basis until such
time a new budget is adopted. The Fiscal Year of the Town of Pantego begins October
st
1 and ends on the last (30 ) day of September of each calendar year.
th

4. Compilation of Adopted Budget / Budget Maintenance. The adopted budget is
compiled and published during the first month of the new fiscal year. The adopted
budget in the form of an amended proposed budget is available for public inspection in
October.

Budget maintenance is a year-round activity of divisions/departments and the Finance
department. The City Manager is authorized to make line-item and departmental budget
adjustments during the year in order to avoid over-expenditure of particular line items.
Adjustments require no further Council action if the total appropriation for each fund as
set forth in the adopted budget is not exceeded. Expenditures in excess of the adopted
appropriations for each fund require budget amendments in accordance to Town policy.

Another spending control mechanism includes monthly review of expenditures by the
Finance department. During the budget process, departments make revenue and
expenditure estimates for the current year with the assistance of the Finance
department. The budget may be amended during the year only after complying with the
notice procedure called for adopting a budget.

5. Departmental 5-Year Plans and Capital Program. Finally, program goals, objectives
and measures are evaluated during budget implementation to determine the
effectiveness of program activities and levels of appropriate funding for subsequent
years. The departmental five-year plan is intended to link departmental planning and
assessment in line with the vision and direction of the Town Council. Each department
should use the development of the plan as an opportunity to reflect collectively on the
mission, objectives and future plans of the department and the Town as a whole.
The five-year Capital Improvement Program includes scheduled construction of major
capital improvements such as streets, facilities, parks, etc. These improvements are
generally funded by debt, but may be funded by existing fund balances or grants when
available. When considering capital improvements, the Town considers Federal and
State mandates, the effect on Town citizens, and the effect a project will have on future
operating budgets. The capital program shall be revised and extended each year with
regard to capital improvements still pending or in the process of construction or
acquisition.

3