Page 19 - Bedford-FY23-24 Budget

Budget Timeline

The City’s scal year runs from October 1 through September 30. (According to the City Charter, the City
Manager must present the Council with the proposed budget no later than the fteenth day of August
(Article IV, §4.02).) The proposed budget must also be led with the City Secretary at that time. Included in
this section is the budget calendar followed for this year’s budget cycle.

MARCH
During this step, departments are responsible for reviewing their individual budgets and
Budget Preparation
proposals for the upcoming year. For departments that also include a citizen advisory b
Recreation), the board members have the opportunity to discuss priorities for the coming
under consideration with the budget.

APRIL-JULY
Once the departments have completed their initial budgets, department representa
Budget Of{ce Review
Budget staff. The intent of these meetings is to review budget requests for clarity
documentation. This is also time to ensure that requested amounts are correct a
departmental operations.
The next step is the review of the preliminary budget requests by the City Manager. T
City Manager Review
meets with departments individually to review their operating budgets and supplemental
AUGUST
The proposed budget must be submitted to the Council no later than the fteenth day
Proposed Budget
actually submitted at a time that will allow enough time to review prior to the scheduled
Submitted to Council
the time of submission, the proposed budget is available through a link on the City's we
can download a pdf version of the budget if desired for of ine review.
This is the rst public meeting that the City Council has to hear presentations from the staf
Budget Work Session
proposed budget and the corresponding tax rate. The Budget Work Session is gene
beginning of August and allows for a thorough presentation of the budget. It also allow
discuss supplemental requests and form a consensus on what to fund in the upcoming bu
The City is required to hold one public hearing on the budget. During the public hear
Public Hearings on
invited to share their comments on the proposed budget. In addition, if the maximum
Budget & Tax Rate
considered is higher than the effective rate, the City must hold two public hearings to soli
the tax rate.
Adoption of the Budget & After deliberation and listening to citizen input via the public hearings, the proposed b
through adoption of a budget ordinance by the City Council. Once approved, the budg
Tax Rate
policy of the City Council and provides the appropriations to fund City operations for the
year. Additionally, the budget ordinance sets the tax rate that is being used to fund the ap
that rate will result in an increase in overall property tax revenue, the City Council must se
tax rate, acknowledging the revenue increase.

OCTOBER
This step commences with the beginning of the scal year. It is the operational plan for th
Implementation of the
scal year. It is the responsibility of the City Manager to ensure compliance with the appr
Budget
each department must assist by ensuring their expenditures are in line with budgeted a
Manager may approve the reallocation of funds within and between departments as long a
is not affected. Additionally, the budget can be amended through procedures outlined in
by a majority vote of the City Council.

O c t 1 , 2 0 2 2

S ta r t o f t h e n ew F i s c a l Yea r, I m p l e m e n ta t i o n o f t h e B u d g e t

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 19