Page 172 - PowerPoint Presentation

D. Proposed Budget Process: a proposed budget shall be prepared by the Town Manager with
the participation of all of the Town’s department directors.
• The proposed budget shall include four basic segments for review and evaluation: (1)
personnel costs, (2) base budget for operations and maintenance costs, (3) service level
adjustments for increases of existing service levels or additional services, and (4) revenues.

• The proposed budget review process shall include Council participation in the review of
each of the four segments of the proposed budget and a public hearing to allow for citizen
participation in the budget preparation.

• The proposed budget process shall allow sufficient time to provide review, as well as
address policy and fiscal issues, by the Town Council.
• A copy of the proposed budget shall be filed with the Town Secretary when it is submitted
to the Town Council as well as placed on the Town’s website.

E. Budget Adoption: Upon the determination and presentation of the final iteration of the
proposed budget as established by the Council, a public hearing date and time will be set and
publicized. The Council will subsequently consider a resolution which, if adopted, such
budget becomes the Town’s Approved Annual Budget. The adopted budget will be effective
for the fiscal year beginning October 1. The approved budget will be placed on the Town’s
web site.

F. Budget Award: Each year the Council approved operating budget will be submitted annually
to the Government Finance Officers Association (GFOA) for evaluation and consideration for
the Award for Distinguished Budget Presentation.

G. Budget Amendments: Department Directors are responsible for monitoring their respective
department budgets. The Finance Department will monitor all financial operations. The
budget team will decide whether to proceed with a budget amendment and, if so, will then
present the request to the Town Council. If the Council decides a budget amendment is
necessary, the amendment is adopted in resolution format and the necessary budgetary
changes are then made.

H. Central Control: Modifications within the operating categories (salaries, supplies,
maintenance, services, capital, etc.) can be made with the approval of the Town Manager.
Modifications to reserve categories and interdepartmental budget totals will be made only
by Town Council consent with formal briefing and Council action.
I. Planning: The budget process will be coordinated so as to identify major policy issues for
Town Council by integrating it into the Council’s overall strategic planning process for the
Town. Each department shall have a multi-year business plan that integrates with the
Town’s overall strategic plan.

J. Reporting: Monthly financial reports will be prepared by the Finance Department and
distributed to and reviewed by each Director. Information obtained from financial reports
and other operating reports is to be used by Directors to monitor and control departmental
budget. Summary financial reports will be presented to the Town Council quarterly.

K. Performance Measures & Productivity Indicators: Where appropriate, performance
measures and productivity indicators will be used as guidelines to measure efficiency,
effectiveness, and outcomes of Town services. This information will be included in the
annual budget process as needed.

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