The Budget division is responsible for the Town’s annual budget preparation and analysis, the five-year capital improvement program and budgeting multi-year project ordinances. The Budget division also publishes the Popular Annual Financial Report.
The annual operating budget gives Town officials the authority to collect revenue and make expenditures based on the priorities of the Board of Commissioners, Town Staff, and the community. The annual budget provides general funds for the operations of departments in General Administration, Public Safety, Public Works, Recreation & Cultural Services plus areas of community support and organizational investment. Budget for the Town’s utility services are maintained in the annual budget as well, along with annual federal grant funds and reserve funds. After many months in the budget development process, the Town Manager presents a recommended budget in May for public discussion. In June, the Board of Commissioners adopts the budget to go into effect July 1st each year.
FY23 Fee Schedule (PDF)
Capital Improvement Program (CIP)
Often, the first step in the budgeting process is anticipating and examining future needs. The development of the Capital Improvement Program assists in defining and prioritizing those needs. Annually, department and Town managers define the capital requests they feel will most benefit the community within the next five years. For the CIP, capital is defined as vehicles over $35,000, equipment over $50,000 and construction over $100,000. By identifying these upcoming larger purchases management can evaluate future needs and create a financial plan to meet those needs. The CIP is considered a “living” document, in that it remains flexible and subject to change to better meet the needs of the Town in the future.
A project ordinance is a document authorizing the appropriation of a budget outside of the annual budget adoption process. These ordinances are frequently utilized for construction projects. Since most larger construction projects cannot be completed within one fiscal year, the adoption of a project ordinance permits the project to be completed without a need to be readopted each year during the annual budget process. This allows the construction process to freely continue without the restriction of closing purchasing orders or rebidding contracts and services at the end of each fiscal year. Project ordinances, much like the annual budget, are adopted with the approval of the Board of Commissioners. Significant budgetary changes to a project ordinance must also be approved by the Board.
Popular Annual Financial Report (PAFR)
The Popular Annual Financial Report (PAFR) is created to present a snapshot of the Town’s annual financial position. The PAFR contains information derived from the Annual Comprehensive Financial Report (ACFR), in an easy-to-read format for those without a traditional financial background. The PAFR highlights financial activities that occur within a given fiscal year and gives the reader an overall sense of the Town’s financial focus and accomplishments.