|Posted on March 7, 2016 at 3:20 PM|
Who is responsible for creating the budget? Are there legal deadlines?
Developing a Budget is a never ending process. The process begins the moment you begin your fiscal year and ends, only to begin again.
There are two basic budget options for Oklahoma municipalities. The Municipal Budget Act (11.O.S. §§ 17-201 through 17-216) and the Estimate of Need Law ( 68 O.S. §§ 3001 through 3033 & 62 O.S. § 461). You will need to determine which one is Applicable to your municipality.
It will depend on your form of government on who prepares the budget.
Aldermanic form of Government - Mayor prepares the budget
Council-Manager form of Government - City Manager prepares the budget
Strong-Mayor form of Government - Mayor prepares the budget
If you have any questions, please contact Kelly at OML via our Inquiry Page or contact your municipal attorney. We welcome you to comment on any of our Inquiry FAQ blog posts.
Town form of Government - Council prepares the budget
The legal deadlines for municipalities under the Municipal Budget Act are as follows:
Chief Executive Officer must submit the budget to the Governing Body thirty (30) days prior to the beginning of the fiscal year. (June 1st)
Governing Body must hold a public hearing on the proposal no later than fifteen (15) days prior to the beginning of the fiscal year. (June 15th)
Notice of the date, time and place of the hearing together with the proposed budget summary shall be published in a newspaper of general circulation in the municipality not less than five (5) days before the date of the hearing. (June 11th)
Governing Body must adopt budget by resolution at least seven (7) days prior to the beginning of the fiscal year. (June 24th)
Adopted budget must be filed with the State Auditior & Inspector and Municipal Clerk on or before the first day of the fiscal year. (July 1st)
Within fifteen (15) days after filing with the State Auditor & Inspector, any taxpayer may protest alleged irregularities.
The legal deadlines for municipalities under the Estimate of Need Law are as follows:
Governing Body must begin preparing Estimate of Need and report of revenues, the first Monday in August. (1st Monday in August)
Excise Board convenes July 1, to set schedule for public meetings. (July 1st)
Prepare Estimate of Needs. (by September 1st)
Submit financials and needs of estimate to county excise board.
Incorporated towns by August 22nd
Cities by August 27th
Publication affidavit filed at least 5 days after budget filing.
(For more details about budgets see pages G-6 through G-20 of the OML Handbook for City and Town Officials.)
Please Note: This summary is not a substitute for legal advice. You should consult your city or town attorney prior to taking any action based on this document.