August 01, 2014

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Finance

Prior Year's Operating Budgets

FY 2014 Adopted Budget

FY 2013 Adopted Budget


FY 2012 Adopted Budget


FY 2011 Adopted Budget



FY 2010 Adopted Budget


FY 2009 Adopted Budget - General Fund

FY 2009 Adopted Budget - Special Revenue, Enterprise and Internal Service Funds


FY 2008 Adopted Budget - General Fund

FY 2008 Adopted Budget - Special Revenue, Enterprise and Internal Service Funds

 

The Budget Process
(Extracted from the Marshall, Michigan City Charter, Article IX General City Finance Section)

9.02, Budget Procedure
On or before the first Monday in March the administrative officials, department heads, boards and commissions of the City, shall submit to the City Manager an itemized estimate of their expenditures for the next fiscal year. The City Manager or the City Manager’s designee, shall prepare a complete itemized budget proposal for the next fiscal year and shall submit it to the Council at its first meeting in April. This proposal shall include the following:

  1. the previous year’s budget figures and actual expenditures;

  2. the itemized estimates submitted to the City Manager;

  3. an account of all revenues received in the current and preceding year and an estimate of all revenues for the next fiscal year;

  4. and the City Manager’s recommendations.

Section 9.03, Budget Document
The budget document shall present a complete financial plan for the ensuing year. It shall include at least the following information:

  • detailed estimates of all proposed expenditures for each department and office of the City showing the expenditures for corresponding items for the current and last preceding fiscal year, with reasons for increases and decreases recommended, as compared with appropriations for the current year;

  • statements of the bonded and other indebtedness of the City, showing the debt redemption and interest requirements, the debt authorized and unissued, and the condition of sinking funds, if any;

  • detailed estimates of all anticipated income of the City from sources other than taxes and borrowing, with a comparative statement of the amounts received by the City from each of the same or similar sources for the last preceding and current fiscal years;

  • a statement of the estimated balance or deficit, as the case may be, for the end of the fiscal years;

  • an estimate of the amount of money to be raised from current and delinquent taxes and the amount to be raised from bond issues which, together with income from other sources, will be necessary to meet the proposed expenditures and commitments of the City government during the ensuing year; and

  • such other supporting schedules as the Council may deem necessary.

Section 9.04, Public Inspection
A copy of the budget proposal shall be on file and available to the public in the office of the Clerk-Treasurer during office hours for a period of not less than one (1) week prior to the adoption of the budget by the Council. Section 9,05, Adoption of Budget, Tax Limit Not later than the first meeting of the Council in June, the Council shall, by resolution, adopt all budgets for the next year and shall, in such resolution, make an appropriation of the money needed for municipal purposes during the ensuing fiscal year of the City and provide for a levy of the amount necessary to be raised by taxes upon real and personal property for municipal purposes subject to the limitations in Section 8.01 of the charter.

Amending the Budget
The Charter of the City of Marshall does not address amending the budget. In accordance with the Uniform Budgeting and Accounting Act, Public Act 621 of 1978, when necessary, the budget must be amended. The amendment must be approved by the legislative body prior to the expenditure being made. This is not only a requirement of P.A. 621, but also a requirement of sound budgeting theory. The purpose of a budget is not only to approve expenditures, but also to control expenditures. If at all possible, the City of Marshall prefers to handle the budget amendment once each year, usually during the last quarter. Approving the budget, and amended budget require us to comply with the Open Meetings Act, which includes scheduling a Public Hearing in advance with proper notification through a newspaper of general circulation.
 



posted 07-08-2014 [Finance]