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.
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 FY 2020 Budget consistent with the Code of Virginia.