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The Village of Woodridge's 2016 Budgeting Process

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by

Jack Knight

on 23 November 2015

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Transcript of The Village of Woodridge's 2016 Budgeting Process

2016 Village of Woodridge
Budget Process

Official start of budget season begins with budget kickoff meeting with staff.

Revenue assumptions are analyzed and the revenue budget is prepared.

May
2016 Village of Woodridge
Budget
Village files budget ordinances in DuPage, Will, and Cook Counties prior to the start of the new fiscal year.
June
Staff works on budget preparation which includes projections for personnel.
Departments submit budget requests for FY 2016 and preliminary year-end projections for FY 2015.
The 5 Year Capital Plan is prepared.
First draft of the budget is assembled.
5 Year budget projections are prepared.
July
Village Board holds a Strategic Planning session to identify goals and priorities.

Village Administrator reviews the proposed budgets, meets with departments to review requests and modifications are made as necessary.

Revised budgets are submitted to the Finance Department.
August
Departmental accomplishments for the current year, performance measures, and goals for the coming budget year are completed.

Memos from staff requesting board feedback are submitted.

The first Budget Workshop presentation is prepared.
September
Budget workbooks and related documents are distributed to the Mayor & Board

The draft budget is made available for inspection at the Library and Village Hall

The first budget workshop is held to discuss the proposed budget and how it addresses Village goals. The General, and Capital Funds are the focus.
October
A Second Budget Workshop is held. All remaining funds including the Motor Fuel Tax, and Water and Sewer Funds are presented.

Final changes and roll overs from current budget year to next are incorporated into the budget.

Tax Levy Workshop is held where multiple levy scenarios are reviewed and a proposed levy is determined.

November
Adjustments from the budget workshops are incorporated into the budget and the numbers are finalized.

The 2016 Property Tax Levy is announced at a Village Board meeting.

A Public Hearing on the FY 2016 is held. Residents have the opportunity to provide comment on the proposed budget.

The FY 2016 Budget is approved.

Town Meeting is held to obtain input from residents on community goals.
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