What determines how much the City can spend?

The budget that the City Council adopts is the City’s legal spending authority. The budget is adopted within 24 hours of the required budget hearing, which is held for the public between the 2nd and 3rd Tuesday in June. Revenues are budgeted by source. Expenditures are budgeted by department and classification or, in the case of capital budgets, for specific items or projects. The legal level of spending control is at the department level for operating expenditures and at the item or project level for capital expenditures. Budgets may be amended by the City Council through a public hearing process as defined by state statute and City management can transfer appropriations between line items or departments. A transfer does not result in a net budget increase.

Show All Answers

1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?