| | About the Budget | | The City of Rockville Charter requires the City Manager to submit an annual budget to the Mayor and Council at least one month before the beginning of each fiscal year. In addition to the operating budget, a five-year Capital Improvements Program (CIP) budget is presented for the Mayor and Council's consideration. The budget is approved in the form of an appropriations ordinance. The City of Rockville's fiscal year begins on July 1. | | |
(July 1, 2010-June 30, 2011)
As the Mayor and Council begin the Fiscal Year 2011 (FY11) budget process, we will work to keep you informed of the steps along the way. We’ll let you know about key dates, planning information and other important details as the budget process goes forward. Updates will be made often, so check back frequently.
The City of Rockville expects FY11 to be a challenging year based on economic forecasts. As the Mayor and Council work through the budget process, they would like your input on the FY11 Operating Budget and Capital Improvements Program.
The Mayor and Council believe it is vital for residents and neighborhoods to take part in the development of the budget. The following outlines the steps in the budget process. Residents can submit comments to the Mayor and Council at any time.
| FY 2011 Budget Dates | | Monday, Dec. 7 | Budget Preview, PART I | | Monday, Dec. 14 | Budget Preview, PART II | Jan. 15-17, 2010
| Mayor and Council Goal and Priority Setting | | Monday, Feb. 22 | Budget Preview, FINAL | | Monday, March 22 | Introduction of Proposed Budget and Introduction of FY 2011 Ordinances and Resolutions | | Monday, April 12 | General Public Hearing #1 | | Monday, April 19 | General Public Hearing #2 | | Monday, April 26 | Mayor and Council Work session #1 - Operating | | Monday, May 3 | Mayor and Council Work session #2 - CIP, Other | | Monday, May 10 | Mayor and Council Work session / Public Hearing (if needed) | | Monday, May 24 | Adoption of FY 2011 Ordinances and Resolutions | | July 1, 2010 | FY 2011 Begins |
FY 2011 Budget Preview - PART I
This is the first look at the FY 2011 operating budget. This preview contains summary information for each of the City's operating funds, including proposed rates, revenue and expenditure estimates, and changes to programs or services. The General Fund, enterprise funds and special revenue funds are all included in this report.
FY 2011 Budget Preview - PART II
This preview summarizes revenue and expenditure principles for the City's General Fund. These principles embody the assumptions that will guide the FY 2011 Operating and CIP budget preparation. These principles are the foundation on which the recommended budget is built. FY 2011 Budget Preview - FINAL
This preview contains updates to budget principles, as well as revenue and expenditure estimates for each fund. Based on these principles, the General Fund is estimated to have a $2.2 million budget gap for FY 2011. This presentation includes a recommendation from staff to close the budget gap, along with a list of options available for the Mayor and Council with corresponding budget estimates.
FY 2010 Adopted Operating and CIP Budgets
 Popular Annual Financial Report (PAFR)
In order to make the financial information that is presented in the Comprehensive Annual Financial Report (CAFR) easier to read and understand, staff created the Popular Annual Financial Report (PAFR). The PAFR provides summary information based on the numbers presented in the annual CAFR and the annual operating budget. The PAFR is aimed at helping the public more easily review the City government's financial operations.
 Comprehensive Annual Financial Report (CAFR)
The CAFR is an annual financial report that is prepared by Finance in accordance with generally accepted accounting principles. A CAFR has three major sections: introductory, financial and statistical, and is audited by a firm of certified public accountants. This technical report is management's representation of the City's actual finances, and is often referred to as the City's financial statements.
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