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Town of LBTS Budget Process

full text online at www.lauderdalebythesea-fl.gov

under Finance….

The Budget: Process Begins…

The budget process in LBTS begins on 10/1 each year…ends 9/30….

Mandated by Fl. Statutes….

A year round process…beginning in March….

Designed to assist Town’s management in ….development of short and long-term plans

Budget Calendar:

Before budget preparation begins the administration updates the Town’s Budget instructions for all departments involved…

These instructions are used in the actual preparation of the budget….

Budget preparation starts in March…during this time….

Finance Division collects info on expected revenue/ changes in expenditures…

Human Resource Division enters personnel costs/benefits…into spreadsheets

Departments are responsible for…any new programs/ new personnel…

Budget requests are submitted on forms developed by the administration to….

maintain consistency/assist dept. in budgeting/planning…

Department heads are given….

the previous 2 yrs. of actual expenditures for their dept./ the present yr. approved budget/ total expenditures yr. to date….

Departments… request dollars…must provide justification for each line item…goals …objectives for coming yr.

Each yr. departments also submit req. for…

necessary capital outlay/ capital improvement projects…

Items that qualify as capital outlay….those that cost $1000 and up and result in a fixed asset to the town…

Items that qualify as capital improvement projects….those that cost at least $10,000 and have a useful life of not less than 5 yrs….

June/July…Town Manager reviews the department requests and submits to the Commission a proposed operating and capital budget for the ensuing fiscal yr….

Town Commission Approval….

Town Commission conducts budget workshops…..

discuss each dept. req./changes made per Commission instructions/ proposed budget is then revised incorporating these changes….

2 public hearings conducted to obtain taxpayer comments prior to 9/30…

Final budget/millage rate adopted by ordinance at 2nd public hearing….

Note: dates for 2008….

6/11..6/24…7/8…7/22…9/12 … 9/25 most at 5pm…check for any changes…will be posted…

All at Jarvis Hall…all televised/online at above gov. link…

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