Budget Deadline Reminders
Posted on March 15, 2017 by Chris Johnson in Budgets and Finance

Budget season is upon us yet again and KLC Legal would like to take the opportunity to remind you of some important dates and requirements.

The proposed budget must be submitted by the executive authority, together with a budget message, to the legislative body no later than Thursday, June 1, 2017.  The executive authority is the mayor in mayor-council and mayor-alderman cities.  In commission cities, the executive authority is the commission.

The budget message is required by KRS 91A.030(7) to explain:

1)  The revenue raising and expenditure goals fixed by the budget for the upcoming fiscal year.

2)  Important features of activities anticipated in the budget.

3)  The reasons for significant changes in program goals and appropriations levels from the previous year.

4)  Any major changes in financial policy.

Saturday, July 1, 2017 is the start of the fiscal year and the deadline for our cities to enact their budgets.

If you have any questions, please contact KLC Legal at 1.800.876.4552.

SHARE THIS: