- Finance & Tax Department
- Annual Operating Budgets for College Township
Annual Operating Budgets for College Township
Budgeting is not only a basic financial management tool but also an occasion for careful planning for municipal activities for the coming year and making reasoned and balanced decisions on how resources will be spent. Citizen input is always welcome!
Here are some of the significant purposes:
- The budgeting process allows the elected governing body to express its goals for community services for the coming year in a single document that is readily understandable by the citizens.
- The budget allocates revenues among various municipal services needs. Careful decisions on what is important have to be made in determining where the limited amount of money available will be spent.
- The budget provides citizens information on how their tax dollars will be spent, and the process allows citizen input in the making of these decisions.
- The budget provides a framework for monitoring the performance of revenues and the accumulation of expenditures during the year. If revenues do not match estimates, or if expenditures are significantly higher than planned, quick action must be taken during the year to bring expenses in line with income.
Throughout the year, the Director of Finance provides Council with monthly reports showing year to date revenues and expenditures compared to budget. The monthly reports also reflect the cash and fund balances for each individual fund.
Preparation of the annual operating budget begins in mid-September when the department heads are requested to project their needs for the upcoming year. Upon receipt of the projections, the township Manager, with the assistance of the Director of Finance, completes and refines the requests and assembles them for distribution to College Township Council in November. Following advertised budget work sessions, a proposed budget is adopted, a public hearing date is established and public notice is given that the proposed budget is available for inspection. On or before December 31, the final budget is adopted by resolution.
View or download the Proposed and Approved Budgets.