The Budget Process
Every two years, the City is required to adopt a structurally balanced budget, meaning ongoing operating revenues are greater than or equal to ongoing operating expenditures. The City has a variety of revenue streams to meet the costs of services provided to our residents. If a shortfall occurs, the City is unable to simply raise taxes to meet the costs to fund the various services the City provides. With finite financial resources to provide local services, programs, and projects, your input is essential to assist City leadership with budgeting priorities. The budget is not a static document, it is a strategic spending plan for our community.
Step 1
Community Engagement - January 2025 - May 2025
In-person and ongoing virtual engagement
Step 2
City Council Goal Setting - March 18, 2025
City Council reviews and adjusts top priorities for the upcoming fiscal year
Step 3
Development of Capital Improvement Program (CIP) Budget: November 2024-April 2025
Development of Operating Budget: December 2024-May 2025
Finance Department prepares drafts of the Operating and CIP Budgets
Step 4
CIP Budget Study Session - April 8, 2025
City Council reviews and hears public comments on the CIP Budget
Step 5
Operating Budget Study Session - May 13, 2025
City Council reviews and hears public comments on the Operating Budget
Step 6
City Council Public Hearing on the Operating and CIP Budgets - June 10, 2025
Revised Operating and CIP Budget go before City Council for adoption
Step 7
Fiscal Year 2025-26 starts on July 1, 2025
FY 2025-26 and 2026-27 Budgets will be posted online at toaks.gov/budget