The Office of Management and Budget (OMB) is responsible for the development, preparation, review, presentation, compliance and amendment of the Village Community Development Districts’ budgets. The Office of Management and Budget is also responsible for the development and annual revision of the Districts’ Capital Improvement Plans. The Office of Management and Budget reports directly to the District Manager and assists the District Manager with the review/formulation of management policies and procedures.
The Adopted Budgets are effective October 1st through September 30th. You can find the Adopted Budgets on their respective District page, under “Budget.” The Adopted Budgets are balanced budgets listing the estimated revenues and expenditures by line item. During the fiscal year, it may be necessary to amend a Budget by resolution, which will also be on their respective District page in accordance with State Statutes.
The fiscal year begins on October 1st and ends on September 30th of the following year.
Annually, the Office of Management and Budget work with the various District Departments to prepare the requested budget for the District. These totals are presented at the Preliminary Budget Workshops. These public budget workshops provide an opportunity to discuss requested topics, general issues, gather input from the public, and provide direction to the staff before the recommended budget is finalized.
An administrative review is a staff process to review the Budget with district leadership.
Cost Allocation fund is to spread the cost and risk of infrastructure and facilities that benefit all residents in the community. Methodology uses assessable acreage: This is the same methodology used for annual maintenance assessments, bond assessments and is a logical progression to use for each district’s allocation.
Beginning in February and continuing through May Budget Workshops/Reviews are held with all residential, commercial, and dependent Districts. These workshops are an opportunity for the department-requested line-item budgets, capital improvement plans, and fund balances to be reviewed by the District Boards and Committees.
In June the majority of the District Boards/Committees are presented with any changes requested to the budget during the Budget Workshops. At this time the Proposed Budget is set to be approved and any new line items to be discussed and reviewed in preparation for the submission and approval of the Final Budget.
In July the Dependent District Boards/Committees are presented with any changes requested to the budget during the Budget Workshops and are submitted to the local governing authority in accordance with their respective ordinances.
In September the Final Budget is presented to the District Boards and Dependent District Boards/Committees for approval. After all revisions and approvals by the District Boards and Dependent District Boards/Committees have been completed this is the Final Budget for the following fiscal year.
The Original Budget may be amended throughout the fiscal year as approved by the District Boards and Committees.
Carry Forward Resolutions go to the District Boards in January. These resolutions are used to carry funds over to the new fiscal year for any other major non-capital expenses that were budgeted yet unspent by September 30 of the previous fiscal year.
