2023 Budget2023 Tentative Budget 2022 Adopted Budget
of the Fulton County Budget
· Budget process starts with the three year Capital Plan call and guidance sent to departments
· Departments are encouraged to begin collecting budget data
· Three year Budget call and guidance is sent to departments
· Departments submit Capital Project requests to Oversight Committees for review/approval
· First Capital Committee meeting is held to review/modify approved requests and review current open Capital Projects
· Departments submit requested Budget revenue and expense details to the Budget Office
· Budget Office reviews each departmental submission and request more details from departments if necessary
· Subsequent Capital Committee meetings, as necessary
· Individual Budget meetings are scheduled with Oversight Committees and Department Heads to review/modify departmental requests
Once departmental budgets are approved by Oversight Committees, the Budget process is turned over to the Budget Review Committee
· Capital Committee finalizes Capital Projects and funding sources to be submitted to the Finance Committee
· Subsequent Budget Review Committee meetings are scheduled to review/modify the Budget and potential levy impact
· Final Budget Review Committee meetings are scheduled to review/modify the Budget and potential levy impact
· The Budget Review Committee makes recommendations on the usage of fund balances and reserves; and approves Tentative Budget to be presented to the Board of Supervisors
· Budget Office compiles approved Tentative Budget for presentation
· Resolution is requested to set the date and time of the public hearing for the three year Capital Plan
· Budget Director files Tentative Budget with Board of Supervisors on the second Monday in November; this officially turns the Budget process over to the Board of Supervisors
· Public hearing is held on the Capital Plan
· The Board of Supervisors Budget meetings begin which is the final stage of the Budget process to review/modify the Tentative Budget line by line
· Public hearing is held on the Tentative Budget
· Final determination of fund balances and reserves are made to offset the tax levy and set the average County tax rate
· Budget is Adopted
County Budget has been defined as an "orderly financial plan for the operation of (County) Government". Such document, as mandated by State laws, shall contain certain financial statements. It shall also set forth appropriations necessary for the conduct of County business and for other services, demanded by the public, ordered by State and Federal laws or instituted by the County's legislative body.
The county tax levy is the total amount of money needed to be raised by a County-wide property tax, which is not otherwise available from attributable revenues, State and Federal aid or the use of fund balances. Such levy allows for the continuance of governmental activities, as defined in the County Budget.
The share of such levy for each municipal jurisdiction within the county's borders; namely, towns (inclusive of villages) and cities, is apportioned on the basis of equalized valuation. In addition to the County's operating budget, various other items must be apportioned or charged back; such as, town and city chargebacks (including, but not limited to, real property tax refunds or certiorari actions), etc.
Assessed Valuations: Assessed value is the value placed on each property within jurisdictional boundaries by locally elected or appointed assessors and used in computing town, village and city taxes. During 1990, a County-wide reassessment project was undertaken. However, when crossing municipal boundaries to apportion the County's real property tax levy, different true market values can exist. Thus, it becomes essential to introduce
Equalization Rates: Equalization rates are established annually by the NYS Board of Real Property Services subsequent to on-site field appraisals and surveys of local properties. These rates are used to convert assessed values to
Full Valuations: Full valuations, unlike assessed values, can be compared from one jurisdiction to another. The net results are then used as a measurement tool by which the county tax levy is proportionately distributed. The full valuation is then reduced to--
Equalized Valuations: The County tax levy appearing in the County Budget is apportioned by using the equalized value, which produces
Average County Tax Rate: The application of this rate develops what percentage of the County tax levy each municipality pays. This rate should only be used as a comparison when analyzing the increased or decreased cost of the County's operating budget from year to year. The individual municipal assessed valuations will determine the applicable tax rates as they appear on the taxpayer's bill.