Page 28 - CityofKennedaleFY23Budget

THE BUDGET PROCESS / CALENDAR

The development of the Annual Budget is governed by formal policies, accepted practices, and
the City’s budget principles – foremost of which is a balanced budget where revenue is equal to
or greater than operating expenses, with unassigned fund balance being utilized for one-time
capital purchases or street repair. The budget process is designed to meet the needs of the
community by allocating sufficient resources to support the planning and implementation of
services, programs, and objectives. The budget is built with the following purposes in mind:
 Establishes a plan of operation, which allocates resources of the City to achieve
specific goals and objectives and guides the City’s activities;
 Provides management information as a comprehensive recording of information;
and,
 Establishes financial control through prioritization of programs/projects.

The budget cycle consists of three phases:

D e v e lo p me n t a n d P re p a rat io n

Each Director develops and submits to Finance initial budget requests, which are based on
standing and new services and programs to meet the needs expressed by the public and the
goals of the Mayor and Council. The Finance Director and the City Manager meet with each
Director to review new program requests, and compare projected revenues against projected
expenditures. The City Manager then refines prepares a preliminary budget. The Preliminary
Budget is shared with others and assists the City Manager’s in developing the Proposed Budget,
which is presented to City Council.

R e v i e w a n d A do p ti o n

Council reviews the Proposed Budget, holds public hearings, and provides input and direction
to staff before adopting the budget and the supporting property tax rate for the fiscal year.

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