Budgets, Audits & Fee Resolutions
The City of Moscow's budget is a very involved process that includes our community as a whole. From the officials elected by citizens who set goals, to the staff who are professionally trained and take pride in protecting our communities investment, this process is one that is taken seriously and judiciously each and every year.
The budget process begins in January as we prepare for the beginning of the upcoming fiscal year on October 1. Steps taken to provide the research and background for the budgeting process include the biennial citizen survey, long-range planning documents, and the Council's annual goal setting session. From there departments develop a draft proposal of the upcoming years budgets based on all that information. An initial round of meetings is held with the City Supervisor to refine those departmental proposals keeping in mind that planned expenditures must balance with anticipated revenues. It is at this point that the budget begins to be balanced.
The Mayor then reviews the balanced draft budget and meets with departments to discuss and further refine the document. During this process of drafting and refining, staff is preparing additional documents that are required to be included with the budget according to the federal authority, the Governmental Accounting Standards Board (GASB). More information is also researched and compiled to be included that is also helpful and interesting as it relates to the budget. At this point, the budget is polished into the final draft form. It is balanced and contains a solid attempt at achieving the mission, goals and long-range plans identified by the community.
Next steps include the public hearing process which allows for the public to review and provide input on the budget document. This culminates in a public hearing typically scheduled in August of each year as required by municipal code. Once the budget passes through the public hearing phase, the document is adopted for implementation in the coming fiscal year.
Idaho state law requires that all general-purpose local governments publish, within six months of the close of each fiscal year, a complete set of financial statements presented in conformity with Generally Accepted Accounting Principles (GAAP), Governmental Accounting Standards Board (GASB), and an audit report in accordance with auditing standards generally accepted in the United States of America by Certified Public Accountants. Pursuant to that requirement, the City issues audited annual financial statements for each fiscal year ending September 30.
The information is presented in a manner designed to set forth fairly the financial position and results of operations of the City as measured and reported by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain an adequate understanding of the City's financial affairs.
Annually, the City of Moscow adopts a Fee Resolution. This Resolution is a schedule of fees for services provided by the City. Fees are set pursuant to Idaho Code Sections 63-1311 and 63-1311A regarding City fees for services and fee increases. All fees designed to be appropriate and reasonably related to the purpose for which such fees are charged and are reviewed by the City Council each year. Fees include everything from utility rates to buildings permits to Market fees and more.