02-01 Budget Procedure
02-01 Budget Procedure
9/8/2005 10:42:42 AM
5/25/2004 7:52:21 PM
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FISCAL 2005 BUDGET PROCEDURE <br /> <br />The preparation of the Annual Budget for the City of Worcester is governed by <br /> the provisions of Chapter 44 of the Massachusetts General Laws. The budget <br />process for Fiscal 2005 was initiated on October 2003, and at that time, the budget <br />staff met with the City Manager to establish the general budgetary guidelines and <br />limitations for the coming year. <br /> <br />Following this session, the City Manager held a City-wide annual budget meeting <br />attended by all department heads and finance personnel concerning the general <br />overview of the state of the economy, and outlined specific guidelines dictating <br />the preparation of individual department operating and capital budgets. In <br />consultation with the City's budget staff, each department then prepared Fiscal <br />2005 operating and capital budgets and projected accomplishments for Fiscal <br />2004. The department operating and capital budgets, which included expenditure <br />and revenue estimates, were submitted to the City Manager by January 2004. <br /> <br />From mid-January through the beginning of April, each department made a <br />presentation to the City Manager justifying proposed budget increases and <br />program changes for the coming fiscal year. Specific requests were negotiated <br />during these sessions and revisions were made to the submitted budgets. <br /> <br />During the month of May the Budget staff finalized the Annual Budget documents <br />for submission to the City Council. According to state law, the budget must be <br />submitted to the City Council within 170 days after the council organizes in early <br />January. The City Manager will submit the Fiscal 2005 Annual Budget to the City <br />Council on May 25, 2003, 140 days after the first City Council assembly. <br /> <br />The City Council will hold a series of public hearings to solicit citizen <br />participation regarding departmental budget requests. The City Council has <br />jurisdiction to make reductions, but cannot increase the proposed budget without <br />the recommendation of the City Manager. Following submission of the budget, <br />the City Council has 45 days in which to act. The Fiscal 2005 Annual Budget <br />becomes effective on July 1, 2004. <br /> <br />CITY OF WORCESTER FISCAL 2005 ANNUAL BUDGET <br /> <br /> Page 1 <br /> <br /> <br />
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