March: City Council submits priorities to the Mayor. ![]() March: Level-service budgets developed (budgets with no new additions that adjust for inflation or changing costs only).February: Mayor requests Priorities from City departments.Public Confidence: Fostering public trust and support for decisions that promote financial stability.īetween the start of the budget process until final approval by the City Council, there are several key steps along the way:.Service Level Solvency: Making sure the City can pay for needed and desired services.Long-Term Solvency: Projecting and ensuring the ability to pay future costs.Budgetary Solvency: Passing a balanced budget each year.Cash Solvency: Ensuring the City pays its bills on time.Officials follow the City of Somerville's Financial Policies throughout the budget process, which is aimed at protecting the City's financial strength and stability and emphasizing the following best practices: The finance committee also holds a series of meetings to review and make recommendations on the budget. In late spring, City Council reviews fiscal trends that may impact the budget. City Councilors also have an opportunity to submit budget priorities to the Mayor. ![]() Throughout late winter and spring, there are deadlines for departments to submit projected expenditures and revenue, as well as requests for additional funding. The City of Somerville's Mayor, as the City's chief executive offer, starts the budget process by submitting a preliminary budget to City Council in February. The City's fiscal year begins on July 1 each year. The City of Somerville's budget process typically kicks off in February and ends with final approval of the city's spending plan with a City Council vote in June. ![]() The largest portion of the City's expenditures in each year's budget goes to paying for salaries and employee benefits, but the budget also includes significant spending on schools, maintaining municipal assets like buildings and parks, and programs to support residents State law mandates the City pass a balanced budget each year, meaning expenditures (appropriations) cannot exceed operating revenue (estimated revenue). Previous Fiscal Year Budgets Select a Year Click on the print button at the top right to access a PDF version.Īttend City Council budget hearings in person, watch them on TV, or stream them online.ĭownload important documents for the current budget process and previous fiscal years. View the FY24 digital budget book on our ClearGov portal.
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