City Budget

Budget (Fiscal) Year


The City of Belmont budget year runs from July 1 through June 30 of the following year.

City Budget Process


  1. The city manager and staff propose the annual budget and present it to the city council for consideration.
  2. The city is required to adopt a balanced city budget by June 30 for the upcoming budget year, following a public hearing on the proposed budget. The city council will vote to adopt the 2017-2018 proposed budget on June 26. For detailed information on the proposed budget click here or come to City Hall to request a copy.
2017-2018 General Fund Pie Chart-1

Types of Funds


The city budget consists of 4 different funds:
  • General Fund - This fund covers most city operations, such as Fire, Parks and Recreation, Police, Streets and Planning
  • Stormwater Fund - This fund provide drainage improvement projects
  • Tourism Fund - This fund promotes Belmont as a tourist destination
  • Water and Sewer Fund - This fund covers the operation and maintenance of the city water and sewer infrastructure and provides drinking water to city customers
  1. GENERAL FUND
  2. STORMWATER FUND
  3. TOURISM FUND
  4. WATER & SEWER FUND


General Fund


Revenues


  • The proposed general fund budget is $10,906,700, only 1.47% higher than the 2016-2017 adopted budget and .41% higher then the amended 2016-2017 budget.
  • The general fund revenues come overwhelmingly from 3 sources which comprise 81% of general fund revenues:
    • Local option sales taxes
    • Property taxes
    • Utility franchise taxes
  • The 2017-2018 approved budget kept the property tax rate at 47.5 per $100 in property valuation. 

General Fund Revenue Sources

Expenditures


The general fund expenditures are broken into the various city departments covered by this fund. It includes:
  • Salary increases for city employees
  • All general fund operations