As a practical matter, most large public and private organizations, and many smaller ones, prepare budgets in order to manage their finances properly. Governments have two other primary reasons for creating budgets. Governments provide facilities and public services to meet their citizens’ needs that are paid for with public funds. Usually there is not enough revenue to provide for all the citizens’ needs, so compromises must be made. The budget process provides a mechanism where elected officials, after hearing the diverse views of citizens, taxpayers, and other interested parties, can compromise and reach an accord on spending priorities.
In addition, the city creates a budget because it is legally required to do so. Section §6.02 of the City Charter requires the city to prepare an Annual Operating Budget. If you have any questions, please email the Department of Budget and Evaluation.