The City of Virginia Beach operates on a fiscal year that begins July 1st of each year and ends on the following June 30th. The City Manager's proposed budget is required to be presented to the City Council by the end of March each year.
||The official Adopted Budget for the City of Virginia Beach goes into effect July 1st.|
||Financial Sustainability Workshop - Joint City and School Board members collaborate to discuss financial sustainability.|
||Leadership Budget Meetings - Management leadership budget planning meetings begin.|
||Economic Forum - Local City Managers and Budget Directors meet with regional Economists to discuss local and national situations affecting our region's economy.|
||City/Schools Five Year Forecast - The upcoming five year financial situation is discussed in detail. City and School staff present information on the overall budget situation including revenues, planned expenditures, and economic conditions.|
||Budget & Management Services along with city leaders work together to establish "targets" for departments based on expected city needs.|
||Proposed Budget Development - Budget & Management Services works with the City Manager's Office and department Directors to begin developing the Proposed Budget that fits with the City Council goals.|
City Council Retreat - City Council members meet to discuss long range strategies.
Capital Improvement Program Caucus (CIP) - CIP caucus members meet to hear from CIP sections on current and proposed projects.
||Leadership Budget Meetings - Finalize the management leadership decisions regarding the upcoming proposed budget.|
||Presentation of the Proposed Budget - The City Manager presents the Proposed Budget to City Council|
||Budget Inquiries - Budget & Management Services and other city staff respond to inquiries from City Council, city employees, civic leagues, and the public regarding the Proposed budget.|
City Council Workshops - City staff meet with City Council to provide background information on the Proposed Budget through five workshops enabling City Council to ask questions and request additional information.
Budget Public Hearings - Citizens are welcomed to comment on the Proposed Budget and offer suggestions to City Council for the approved Adopted Budget.
||Final Budget Adoption - City Council makes final decisions and adopts the official City of Virginia Beach Operating Budget and Capital Improvement Program|