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Overview Of Annual Budget Process, Legal, and Policy Requirements of The City of Roseville, Minnesota The City adopts an annual budget for the General and Special Revenue funds that are prepared on the modified accrual basis of accounting. The adopted budget indicates the amount that can be expended by each fund based on detailed budget estimates for individual expenditure accounts. Budget Process (General) The formal budget process begins in late March or early April of each year. At that time the budget materials and guidelines are distributed to the various department heads. Informally, aspects of upcoming budgets are discussed throughout the year with the city council, staff and city taxpayers. The submitted departmental budgets are submitted to the Finance Department, where they are compiled, clarified and put into a format for the city manager's review. The city manager meets with each department to review any questions or programs. When the final review is completed, the proposed budget document is prepared and provided to the city council. The city council holds an initial informal work session at which time the proposed budget is formally released to the public. A series of meetings are then held over the next several weeks, when citizens are invited in to discuss the proposed budget with staff and council. The council must then take a formal action to approve a proposed budget and levy before September I. so that the county auditor may receive the information on or before September 15. The county auditor must then compile all of the tax data from all levying school districts and cities for preparation of a parcel specific mailing to each county property taxpayer by mid - November. By state statute, the city must then schedule a "Truth -in- Taxation" hearing between the end of November and December 20, at which time the city's taxpayers are invited to attend and express their opinions regarding the proposed tax levy and budget. The city council may then, at a subsequent meeting, approve the final budget and levy for the succeeding year. Budget Amendments Periodically, during an operating year, it becomes necessary to modify the adopted budget. When there is no effect on the total budget, the procedure for modification from one line item within a budget to another line -item is an application by the department head to the city manager or his designee. I -13