Page 18 - Bedford-FY24-25 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
submitting their proposals for the upcoming year. For departments that also include a citizen
advisory board (i.e. Parks & Recreation), the board members have the opportunity to discuss
priorities for the coming year to be taken under consideration with the budget.

APRIL-JULY
Budget Of{ce Review Once the departments have completed their initial budgets, department representatives
meet with Budget staff. The intent of these meetings is to review budget requests for clarity
and supporting documentation. This is also time to ensure that requested amounts are
correct and suf cient for departmental operations.
The next step is the review of the preliminary budget requests by the City Manager. The City
City Manager Review
Manager meets with departments individually to review their operating budgets and
supplemental requests.

AUGUST
The proposed budget must be submitted to the Council no later than the fteenth day of
Proposed Budget
August, but is actually submitted at a time that will allow enough time to review prior to the
Submitted to Council
scheduled work sessions. At the time of submission, the proposed budget is available through
a link on the City's website. Individuals can download a pdf version of the budget if desired
for of ine review.
Budget Work Session This is the rst public meeting that the City Council has to hear presentations from the staff
and discuss the proposed budget and the corresponding tax rate. The Budget Work Session is
generally held at the beginning of August and allows for a thorough presentation of the
budget. It also allows the Council to discuss supplemental requests and form a consensus on
what to fund in the upcoming budget.
The City is required to hold one public hearing on the budget. During the public hearing, the
Public Hearings on
public is invited to share their comments on the proposed budget. In addition, if the
Budget & Tax Rate
maximum tax rate being considered exceeds the lower of the voter-approval rate or the no-
new-revenue rate, the City must hold one public hearing to solicit comments on the tax rate.
After deliberation and listening to citizen input via the public hearings, the proposed budget
Adoption of the
is nalized through adoption of a budget ordinance by the City Council. Once approved, the
Budget & Tax Rate
budget becomes the policy of the City Council and provides the appropriations to fund City
operations for the upcoming scal year. Additionally, the budget ordinance sets the tax rate
that is being used to fund the approved budget. If that rate will result in an increase in overall
property tax revenue, the City Council must separately ratify the tax rate, acknowledging the
revenue increase.
OCTOBER
Implementation of the This step commences with the beginning of the scal year. It is the operational plan for the
City during the scal year. It is the responsibility of the City Manager to ensure compliance
Budget
with the approved budget and each department must assist by ensuring their expenditures
are in line with budgeted amounts. The City Manager may approve the reallocation of funds
within and between departments as long as the grand total is not affected. Additionally, the
budget can be amended through procedures outlined in the City Charter by a majority vote
of the City Council.

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 18