Why does the budget begin in the middle of the calendar year?
Many organizations have adopted 12-month financial planning periods which do not begin or end with the calendar year. These financial or fiscal years are often set to be parallel with similar organizations. Most governments, school systems, and many nonprofit enterprises use a July 1 to June 30 fiscal year. By law in Virginia, the State and all other local governments are required to have a fiscal year that begins on July 1 and ends on June 30.

If you have any questions, please email the Department of Budget and Evaluation.

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1. What is a budget?
2. Why do governments budget?
3. What is the timeline for the budget process?
4. Why does the budget begin in the middle of the calendar year?
5. How are spending decisions made?
6. What budget documents are required to be prepared?
7. What are the legal responsibilities of the City Manager and City Council regarding budget setting?
8. Once the budget is approved, can it be changed?
9. Where do city revenues come from?
10. Since the final budget can be only an estimate, what happens when the actual spending or revenues is higher or lower than the city expected?
11. How is the operating budget organized?
12. What is the Capital Improvements Plan?
13. How does the city pay for Capital Improvement Plan projects?
14. What does the Bond Authorization permit the city government to do?
15. How can the city proceed with projects if it has not sold bonds to get the cash needed to pay for them?
16. How much can be borrowed?
17. How does the budget affect property taxes?
18. How can I express my opinion to elected officials on budgetary issues?