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BUDGET PROCESS

The Town of Morrisville’s budget process is designed to learn by assessing current conditions and desired

needs; to set our focus toward delivering the right outcomes based on community demands and financial

capacity; to assemble a budget that works within the framework of our focus; to present a balanced and

responsible plan that evaluates how decisions today might impact future budgets; and to take action

executing the budget with a high degree of proficiency.

ASSESSMENT PHASE

The initial phase begins in October and runs through January the following year. Reviews of current Town

finances occur annually beginning with our Comprehensive Annual Financial Reporting and Audit that

helps to define our financial condition and is essential in understanding the challenges and opportunities

that may influence future budgets. Performance measures are reported, and Department’s begin gathering

and analyzing key information for decision-making purposes. This level of both internal/external review of

current Town finances & performance covers such specifics as accomplishment of core objectives, revenue

performance and diversity and patterns of expenditures. Successes are identified, issues are diagnosed,

adjustments made, and future priorities are foreshadowed. Council and staff may elect to conduct Pre-

Retreat Work Session(s) to gauge community priorities, issues, performance and exchange informational

needs in preparation of the Annual Retreat.

FOCUS PHASE

The Council conducts an annual planning retreat in winter to collaborate, discuss and focus in on the

priorities within an early projected financial capacity. During this phase, consideration is given to make

necessary modifications to forecasting assumptions and capital planning, accounting for influential factors

such as service demands, economic conditions, trend indicators, performance indices, program changes,

and compensation levels while not deviating from the direction of our Town Strategy. Such a multi-year

evaluation philosophy allows for a greater understanding of how decisions in one budget year may impact

future budgets.

ASSEMBLY PHASE

In March, staff re-assesses departmental Base Budget projections in relation to their service objectives and

resource potential for the coming year as guided by the Town Strategy. Available financial capacity will

determine the ability to fund any new initiative requests such as service expansions, onetime priorities or

previous unfunded

expenditures above a Department’s Base Budget. Pre-Budget Meetings are held with

Senior Management to gauge and refine budgetary needs within a strategic framework, mitigating

redundancies and weighing alternative solutions.

Provide the highest level of service to residents without

impairing the Town's sound financial condition.

Budget is balanced for each fund; total projected

revenues and funding sources must equal total

anticipated expenditures.

Internal budgetary control is maintained at the

departmental level and designed to provide reasonable

assurance that these objectives are met.

Organizational oversight is maintained by the Budget

Officer and his/her designee to provide for that

reasonable compliance is realized in the execution of

budget objectives.