(STILLWATER, OKLAHOMA / Jan. 14, 2020) – How does the City of Stillwater determine how your tax dollars are used? Much like the budget you use at home. For instance, you plan for known expenses; however, if your roof begins to leak or a pipe in your kitchen bursts, you will have to use money set aside for the unexpected or you have to adjust your spending to pay for the repairs?
The City also has to plan for the known expenses and to save for future and unexpected expenses. For example, the City must ensure proper funding in its Annual Budget so that:
departments have the funds they need to operate,
employees are compensated fairly for the work they do,
future capital projects are funded, and
reserve funds are adequate in case of emergency.
Provides a flexible working plan for operating the City in the coming year.
Converts the City’s long- and short-term plans and policies into services and programs.
Establishes the amount of revenue expected to be available, which sets limitations on the amount of expenditures that can be supported.
Establishes the costs of providing services and programs.
Sets priorities to determine how the resources will be allocated among the services and programs our citizens expect and need.
Provides a benchmark to which actual revenues and expenses can be compared.
To comply with the Oklahoma Municipal Budget Act, 11 O.S. 17-201.
Learn more about Developing the Annual Budget.
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