Page 27 - CityofForestHillFY25AdoptedBudget

BUDGET PROCESS (CONTINUED)
Public Hearing / Budget Adoption

A public hearing on the budget and tax rate is held prior to adoption. Citizens or any other
individual may make formal comment either “for” or “against” the proposed budget. The public
also has the opportunity to attend City Council budget workshops. City Council may take action
to modify the proposed budget. The Council must also adopt a tax rate to support adopted

funding levels.
Budget Amendment Process
Budget estimates may be amended and increased as the need arises to permit appropriation
and expenditure of unexpended cash balances on hand and unanticipated revenues. Such
amendment may be considered and adopted at any time during the fiscal year covered by the
budget by filing the amendments for Council approval.
DEPARTMENT SUMMARIES

Each department is described by narrative information in the budget in order to provide a
description of the services provided. Each area includes the following information:

Program Description
This section outlines the general responsibility performed by the department and identifies
expenditure items in the budget that support the description and goals of the department.
Expenditure Summary

The summary of expenditures shows the category of expenses for each department. Transfers
are not included at the department level.
FINANCIAL POLICIES

Definition of a Balanced Budget

The annual operating budget submitted to the City Council will be balanced; expenditures not
exceeding current year revenues plus available fund balance, reserves, and transfers.
Minimum Fund Balance and Working Capital Policies

The Program of Services submitted to the City Council shall strive to maintain a minimum
unreserved fund balance of 90 days of annual operating expenditures for the General Fund and
a minimum working capital equivalent to 15 days of annual operating expenses for the Water
and Sewer Fund. The City has presented here within, a balanced budget that will retain the goal
of maintaining the minimums anticipated.

Operating Budget Policies
The City of Forest Hill budgets resources on a fiscal year, which begins October 1st and ends
September 30th of the following year. The operating budget will be developed on an annual basis.
Appropriations for each year will be approved annually by the City Council.

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