The Town’s budget year is based on a fiscal year that begins July 1 and ends June 30 each year. Much background work is required to develop and review the annual Town budget. The development process for the budget begins long before it is officially adopted by the Town Council. Each month during the process, the Town Manager’s office and the Finance Department analyze projections of actual revenues and expenditures.

November - January

• The Finance Department examines Town revenues collected and expenditures made to date.
• The Finance Department updates revenue projections for the current year and next year.
• The Finance Department compiles budget information and distributes the information, instructions and worksheets to Town departments.
• Town departments prepare estimated budget expenditures and requests for new funding.
• The Finance Department compiles the revenue estimates and projected budget expenditures provided by each Town department/division.

February - March

• The Town Manager reviews departmental budget estimates and requests for new funding.
• The Town Manager submits a recommended budget to the Town Council.

April - May

• The Town Council reviews the recommended budget and makes changes as needed.
• The Town Council reviews and adopts the tentative budget.
• The tentative budget is published once a week for two consecutive weeks.
• A public hearing is held to discuss the budget.
• The Town Council convenes a special meeting to adopt the final budget.

June - July

• The Town Council Sets the property tax levy for the next fiscal year. 
• The final budget is implemented as the Town’s new fiscal year begins.