- Council Policy 4-1 Preliminary Budget Deadline
Council Policy 4-1 Preliminary Budget Deadline
SUBJECT: Preliminary Budget Deadline
PURPOSE: Establish a deadline for the preliminary budget to be submitted to the City Council.
BACKGROUND: The City does not have its own policy establishing a deadline for the submission of the preliminary budget to the City Council. It would be beneficial for the City Council to adopt a formal preliminary budget policy to establish standard and sound fiscal procedures for the Council’s review and eventual adoption of the City budget. The Oklahoma Municipal Budget Act requires the preliminary budget for a municipality to be prepared and submitted to the governing body at least thirty (30) days and the budget approved at least seven (7) days prior to the beginning of the fiscal year. The City Council needs more than a couple of weeks to review, discuss, provide direction and adopt the budget by the deadline imposed by state law.
PROCEDURES: The City of Lawton’s preliminary budget shall be prepared by the City Manager and submitted to the City Council by April 1 st of each year. To assist with meeting this deadline, the City Manager will require officers or employees who are charged with the management or control of departments of the City of Lawton to furnish projections for the fiscal year covering estimated departmental and all other revenues and expenditures on or before a date set by the City Manager.
REFERENCE: Oklahoma Municipal Budget Act (11 O.S. §17-201 et seq.)
EFFECTIVE DATE: July 8, 2014
RESPONSIBLE DEPARTMENT: Finance
FRED L. FITCH