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 | 
