Understanding the Municipal Budget Process April 17th ($70)
6:00 - 9:00 pm. (Light Dinner @ 5:30 p.m.)
Passing a responsible budget that provides essential services without imposing excessive cost is one of the most challenging and time consuming responsibilities of local, elected leaders. Yet, the numbers, the process, the actors, the political bargaining, and other aspects of creating and monitoring a municipal budget can overwhelm even seasoned leaders. Whether you are new to the municipal budget process or have questions about the processes you’ve been through, this seminar can help you. Come discuss the ins-and-outs of the municipal budget process with experienced budget professionals. Discuss the timing of executive and legislative budget processes, procedures that legislative bodies typically follow when crafting a budget, powers of legislative and executive leaders in the budgetary process, where revenue and expenditure estimates come from and what they mean, and legal requirements for budgetary reporting. Walk through typical executive and legislative budget documents, as well as a consolidated annual financial report (CAFR) to understand what they mean and how you can use them to do your job more effectively.
Course Objectives:
When you complete this course, you will be able to - Discuss how your community’s budget process compares with other municipalities
- Differentiate between the powers of the chief executive and legislative leaders in creating, passing, and monitoring budgets
- Understand and discuss the basics of how revenue and expenditure estimates are created and how the estimation process impacts budgetary uncertainty
- Identify the types of information that your community must report in its budgetary documents
- Understand the dual nature of the municipal budget as both a technical document and a political tool
- Discuss what major elements of your community’s budget documents and CAFR mean
Instructor: TBA
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