By the first meeting of May, City Council shall adopt a balanced budget for the upcoming fiscal year (July to June) and shall adopt the tax levy. The budget provides the annual financial plan for the management of the City's affairs. The document compiles the financial data needed to support the City's comprehensive decision-making and policy development process, and it reflects a reasonable approach to meeting our most critical needs in the core services areas while continuing to position the City for long-term financial stability.
The City's financial policies call for the City to develop a multi-year plan for capital improvement purchases or projects costing more than $30,000, update the plan annually, and make all capital improvements in accordance with the plan. The Capital Improvement Plan is presented to Council early each year to allow the Council and public to provide input during the early stages of the budget preparation process.