Budget Process

The Town’s budget is based on the Fiscal Year July 1-June 30. The Town Council goes through a rigorous process for developing the annual budget and capital improvement plan. The process starts with the Town Council Annual Retreat to identify priorities for the upcoming fiscal year and beyond.  The Town Manager uses this input to develop the Town Manager Recommended Budget which is formally presented to the Mayor and Town Council.  This is followed by a number of meetings and a public hearing over several months to discuss the General Fund, Utility Fund, Five-Year Capital Improvement Plan, and Schedule of Rates and Fees.

FY 2021 Budget

The Town Council approved the FY21 Budget and Capital Improvement Plan (CIP) Schedule on August 22, 2019:

  • August 18, 2019: Annual Retreat to Establish FY21 Priorities.
  • August-December 2019: Town Manager prepares Recommended FY21 Budget and Five-Year CIP (FY21-FY25).
  • September-October 2019: Planning Commission and Infrastructure Committee Review Five-Year CIP
  • November-December 2019: Town Council reviews Five-Year CIP, conducts public hearing, and approves final Five-Year CIP.
  • January 9, 2020: Town Manager Presents FY21 Budget, and Rates and Fee Schedule.
  • January 23, 2020: Budget Work Session (Review General Fund, Utility Fund, and Event Fund Expenses).
  • February 6, 2020: Budget Work Session (Review General Fund, Utility Fund, and Event Fund Revenues, along with the Rates and Fees).
  • February 20, 2020: Additional Budget Work Session (if needed).
  • February 27, 2020:  Public Hearing on Proposed FY21 Budget, and Rates and Fee Schedule.
  • March 12, 2020: Adopt FY 21 Budget, and Rates and Fee Schedule.

01-09-19 Town Manager’s FY 2021 Budget Presentation

01-09-20 Town Manager’s Recommended FY 2021 Budget            

Five-Year Capital Improvement Plan (FY21-FY25)

 

Financial Policies – Adopted October 10, 2019

On October  10, 2019,  the Town Council adopted a new set of Financial Policies for managing the Town’s funds.  The policy repeals and replaces the previous versions of the Fiscal Policy adopted by the Council.

FY2020 Adopted Budget

Following a number of budget work sessions and a public hearing, the Town Council adopted the FY2020 budget as follows:

FY 2020 Budget

FY2020 Schedule of Fees

FY2020-2024 Capital Improvement Plan

FY 2o19 Approved Budget

The Town Council approved the FY 19 General Fund and Utility Budgets as well as the FY19-23 Capital Improvement Plan (CIP) on June 14, 2018.

FY19 General Fund and Utility Fund Operating Budgets

Five-Year Capital Improvement Plan – General Fund

Five-Year Capital Improvement Plan – Utility Fund

Schedule of Fees