FY 2023 Budget

Overview

The Town’s fiscal year runs from July 1 to June 30 of the following year. The budget, as adopted by the Town Council, is the guide of Town operations for the year, to include funding priorities. The budget development process begins in the fall and is refined over the winter, and the proposed budget is presented by the Town Manager to the Town Council in March. During the subsequent weeks and months, the Town Council will review the proposed budget, make amendments as desired, and adopt a budget prior to June 30. As part of each budget, the Town Council approves a set of taxes and fees to pay for operations throughout the year.

Adopted Budget 

At the May 10, 2022 Town Council meeting, the Town Council adopted the FY 2023 Budget.

• Click here to view a summary the FY23 Adopted Budget
  • Total Budget and Summary of Changes
• Press Release
• FY23 Adopted Budget
• The Proposed Budget is below and changes made to the Proposed Budget are available as part of the information from the May 10th Council meeting.

Proposed Budget 

• FY23 Town Manager Proposed Budget (March 2022)
• FY23 Town Manager's Proposed Budget Presentation (March 16, 2022)
• FY23 Budget Questions and Answers
  • Q&A will be continue to be amended as Questions arise and the Answers become available

Historical Information

• FY21 Financial Trends and Graphs

Key Budget Dates

The Town Council will hold a series of special work sessions to deliberate the proposed budget.  Documents, audio, and video recordings will be provided when available.  Meetings and work sessions begin at 7:00 PM.

2021 Calendar Year:

• November 10, 2022, Budget Work Session - FY23 Pre-Budget 
  
• November 17, 2022, Budget Work Session - Town Council Work Session - ARPA & CIP Prioritization

2022 Calendar Year:

• February 8, 2022, Regular Meeting - Adopt 2022 Personal Property Tax Rates 
• March 8, 2022, Public Hearing - 2022 Real Estate Tax Rate 
• March 16, 2022, Town Council Budget Work Session - Town Manager presents Proposed FY23 Budget
• March 22, 2022, Regular Meeting - Adopt 2022 Real Estate Tax Rate
  
• March 30, 2022, Town Council Budget Work Session - Review and Discussion of Proposed FY23 Budget 
• April 12, 2022, Public Hearing - Budget and Master Tax and Fee
• April 26, 2022, Regular Meeting - Town Council Scheduled Adoption of FY23 Budget
• May 10, 2022, Regular Meeting - Town Council Adopts FY23 Budget
• May 24, 2022, Town Council Work - Long Term Utility Rate Modeling (Stantec and Davenport)

Budget Calendar

The budget development calendar details the internal schedule of the various tasks that need to take place, on a monthly basis, in order to prepare and adopt the Fiscal Year Budget consistent with the Code of Virginia.

FY 2023 Budget Calendar link here.