Key Financial Documents
The budget document is the annual financial plan for City operations for
the period covering one fiscal year. The City of Gulf Breeze's fiscal
year begins on October 1 and ends on September 30. This plan describes
the sources of revenues and how the funds will be spent during the year.
The annual operating budget is the key document which describes the projects
to be accomplished and the City's financial status each year.
Organizational Structure of the Budget
The operations of the City are grouped into different funds. Within each
fund are one or more departments. A department is an organizational unit
which provides a major type of public service, such as the Police Department
or Community Services Department.
At the most detailed level of the budget are account codes, also known
as line items. These are the most basic units in the budget and make it
possible to determine, for example, how much is spent on chemicals for
the operation of the water plant.
General Statute Requirements
In accordance with the Florida Statutes, the City is required to budget
and account for its funds on the modified accrual basis of accounting.
Under this method, revenues are recognized in the accounting period in
which they become available. Expenditures are recognized in the accounting
period in which the goods and services are received (except for unmatured
interest on general long-term debt, which is recognized when due).
The State of Florida requires each local government to operate with a
balanced budget.
Budget Preparation
The budget preparation process begins in May with the annual Town Meeting.
The Town Meeting forum allows residents of the City to discuss what they
would like to see the City accomplish in the next fiscal year.
In May and June, City departments prepare their operating budget proposals
for the next fiscal year. Departments are encouraged to conduct a thorough
review and evaluation of their organizational structure and current and
proposed programs. Departmental operating budgets are submitted by the
middle of June.
Executive Review
Once the department budget review is finalized, the individual department
budgets are forwarded to the City Manager for review. From mid-June until
the City Council workshops, the City Manager reviews the departmental
requests. The City Manager then prepares a comprehensive proposed budget,
including operations and capital improvements and a summary budget statement
for City Council consideration.
Council Review
Beginning mid-July, the City Manager presents the proposed budget to the
City Council during a number of City Council workshops. The City Council
meets to review and discuss the budget with the City Manager and each
Department Director.
In accordance with the Truth In Millage Act, the City Council holds a
public hearing on the Millage Rate and Proposed Budget prior to the adoption
of a tentative millage and budget ordinance, generally by early September.
By mid to late September, the City Council adopts by resolution of the
final Millage Rate and Budget that serves as a financial planning and
work plan for the next fiscal period.
Implementation
During the month of October, the City Manager provides information to
departments setting time schedules and priorities for the purchase of
equipment and the implementation of new programs or initiatives.
Copyright © 2001, City of Gulf Breeze, Florida. All
Rights Reserved.
City of Gulf Breeze
1070 Shoreline Dr.
Gulf Breeze, FL 32561
(850) 934-5100
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