The budget has been structured and prepared using the guidelines of the Governmental Finance Officers Association (GFOA). Two sources, Governmental Accounting, Auditing and Financial Reporting (GAAFR) and the Governmental Accounting Standards Board (GASB) guide the financial reporting and annual budget process. The Town of Frederick prepares its budget on a calendar year basis as required by state statute. The budget must be balanced or show a revenue surplus. "Balanced budget" is defined as "a balance between total estimated expenditures and total anticipated revenues, including surpluses." This means that the appropriated expenditures cannot exceed the sum of the revenues and beginning fund balance. The Town of Frederick’s definition of a "Balanced Budget" does comply with the statutory requirements for the State of Colorado located in C.R.S. 29-1-103 (2).
A public hearing on the proposed 2021 budget and mill levy certification will be held at the regular meeting of the Town Board at the Town Hall, 401 Locust Street, on November 10 and December 8 at 7 pm. You may inspect the proposed 2021 budget and file or register objections or suggestions before adopting the 2021 budget.
Your insights are valued and enable the Town to make informed decisions! Please plan to attend these meetings.
2021 Budget Timeline
|TASK NAME||START DATE||FINISH DATE|
|Budget Season Kick-off||6/22/2020||12/31/2020|
|Work Session/Priority Setting/Economic Outlook - Mayor and Board of Trustees||6/30/2020||6/30/2020|
|Work Session - Mayor and Board of Trustees||9/15/2020||9/15/2020|
|Work Session - Mayor and Board of Trustees||10/6/2020||10/6/2020|
|Public Hearing - Mayor and Board of Trustees||11/10/2020||11/10/2020|
|Public Hearing - Mayor and Board of Trustees||12/8/2020||12/8/2020|
|Staff Works on Finalizing Budget||11/25/2020||12/8/2020|
|Budget Adoption - Mayor and Board of Trustees||12/8/2020||12/8/2020|