Each year, the\u00a0Budget Officer\u00a0assists the Town Supervisor in preparing a Town Budget for the next year. From April to September, the\u00a0Budget Officer\u00a0works with the Town Supervisor and Town Staff\u00a0to prepare a “Tentative Budget”. In mid-September, the “Tentative Budget” is presented to the Town Board where it becomes the “Preliminary Budget”. The “Preliminary Budget” is\u00a0made available for public review and comment at a public hearing held in early October. After the Public Hearing, the Town Board reviews all comments and develops the “Final Budget”. The Town Board then adopts the “Final Budget” in late October at a Legislative session. After that, the “Adopted Budget” is presented to Monroe County.<\/p>\n
The annual budget process also includes a multi-year strategic financial outlook by taking into account projections and changes that are anticipated for coming years. The multi-year budget helps the Supervisor and the Town Board prepare for future adjustments in State mandates, healthcare costs and other mandatory expenses, while planning for potential capital projects.<\/p>\n
The Town Budget describes the cost of providing services and functions for town residents and businesses, balancing the needs of the community with the costs of providing such services and functions. As described in the Town of Wheatland Local Government mission statement, the Town\u00a0of Wheatland\u00a0is committed to “provide all of the Town\u2019s citizens and businesses with the utmost quality of basic services, directed at publicly expressed community needs, at the “least possible cost<\/span>“. The Town provides a broad set\u00a0of important services and functions for residents and businesses across various categories of operations,\u00a0such as:\u00a0Town-Wide, Town Outside of Village (TOV) and Special Districts (refer to the Town Government Services Summary for further descriptions or these categories).<\/p>\n The local Town Government carefully manages the Town’s finances to ensure an appropriate balance of revenues and services provided. The Town’s financial management\u00a0techniques\u00a0include a combination of industry best practices in\u00a0conjunction with\u00a0adherence to\u00a0all requirements associated with New York State financial accounting and reporting laws and other New York governance instruments.<\/p>\n Mid-September<\/strong>: The “Preliminary Budget” for the upcoming new year will be made available for public review.<\/p>\n<\/li>\n Early\u00a0October<\/strong>:\u00a0A Public Hearing for the “Preliminary Budget” is held.<\/p>\n<\/li>\n Late October<\/strong>: The\u00a0Town Board adopts “Final Budget”.<\/p>\n<\/li>\n<\/ul>\n The New York State Property Tax Cap<\/a> applies to all school districts and local governments (i.e. counties, towns, villages and special districts) and is set at the rate of inflation or 2 percent, whichever is less. To preserve local control, the plan empowers residents to go over the cap with a 60 percent majority vote for school districts and 60 percent of the local governing body for local governments when they believe it is in the best interest of the community. The community may participate in the process because the local law is subject to a public hearing. Only limited exceptions allowed for the cap, including one-time needs for large legal settlements or limited pension growth. In order to encourage cost savings, local governments are rewarded for consolidation of services (refer to more information published in the New York State\u00a0Citizen’s Guide to Consolidating Overlapping Governments<\/a>).<\/p>\n The Office of the State Comptroller (OSC) has basic responsibilities for the oversight of local Governments in accordance with the New York State constitution, including: the authority to perform audits, prescribe the information included in annual financial reports and prescribe a uniform system of accounts. As such, the OSC compiled a comprehensive accounting and reporting guide<\/a> for local officials and others interested in accounting and financial reporting by local governments in New York State. It provides an overview of generally accepted governmental accounting and financial reporting principles and the OSC\u2019s interpretations of such principles.<\/p>\n","protected":false},"excerpt":{"rendered":" How is the Town Budget determined? Each year, the\u00a0Budget Officer\u00a0assists the Town Supervisor in preparing a Town Budget for the next year. From April to September, the\u00a0Budget Officer\u00a0works with the Town Supervisor and Town Staff\u00a0to prepare a “Tentative Budget”. In mid-September, the “Tentative Budget” is presented to the Town Board where it becomes the “Preliminary … Continue reading “Town Budget”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":127,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-294","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/pages\/294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=294"}],"version-history":[{"count":15,"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/pages\/294\/revisions"}],"predecessor-version":[{"id":2568,"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/pages\/294\/revisions\/2568"}],"up":[{"embeddable":true,"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=\/wp\/v2\/pages\/127"}],"wp:attachment":[{"href":"https:\/\/townofwheatlandny.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nFinancial Management<\/h3>\n
Annual Budget Process Schedule<\/h5>\n
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New York State Property Tax Cap<\/h5>\n
Accounting and Reporting Practices<\/h5>\n