Budget

Overview November 9, 2017

Finance

The City of Carmel-by-the-Sea is committed to community involvement and transparency in every step of the fiscal cycle. On this page you will find copies of the annual budget, the annual audited financial statements (“ACFR” or Annual Comprehensive Financial Report), quarterly reports of sales tax activity, and the latest fee schedules.

The budget is developed and finalized through a collaborative process that involves the members of the community, the City Council, the City Administrator and all the departments of the City. The calendar for the budget cycle is approved by City Council at the beginning of each calendar year.

The City’s financial statements are audited annually by independent auditors through a process that starts before the end of the fiscal year (June 30th) and continues into fall. The external auditors generally report on their audit in December.

Fee schedules are updated annually based on fee studies or general CPI increases. The schedules are reviewed by the community and the City Council each spring.

Below are current and historic copies of these important documents.

Annual Budget Adoption Process

The City’s fiscal year runs from July 1 through June 30. Each year in June the City Council adopts its budget, including the Capital Improvement Plan and fees for City services.

The City begins drafting the annual budget in spring, with special budget hearings (special City Council Meetings) typically scheduled in May and June. The Budget is typically adopted by Council during the June City Council meeting, and goes into effect on July 1.