The City Council adopts a budget that is basically the financial plan for the City, which incorporates the
5-year Capital Improvement Plan. It forms the basis for budget appropriations and includes any revisions or adjustments made by the Budget Committee.
Any citizen who is interested in reviewing the budget may contact the Finance Department at City Hall. Copies of the budget are also available for review at the public Library. The actual budget document contains extensive line details and is about an inch thick.
There are four significant steps in a budget process:
- April 2014 – The City Manager presents the Proposed Budget to the Budget Committee. This provides a starting point for discussions.
- April 24, 2014 – Budget Committee meeting scheduled for public review and consideration of the document. The Budget Committee is made up of the seven City Council members and seven non-elected citizens.
- In April and May, the Budget Committee deliberates on the Proposed Budget.
- May 2014 - The Budget Committee approves the Proposed Budget, which may include some amendments, for recommendation to the City Council.
- June 3, 2014 – The Adopted Budget. The City Council reviews and considers the Approved Budget, deliberates and, where they determine appropriate, makes further adjustments which are embodied into the Adopted Budget.
- July 1 – Implementation of the FY 2014-15 budget. The services and projects within the Adopted Budget are implemented.
The City has received the Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA) for many years for its budget documents. Links to our more recent budget documents are shown below.
For the Lake Oswego Redevelopment Agency (LORA) budget documents click here.