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Annual Budget

The City of Crofton 's Annual Budget outlines both income and expenditures that are expected to be received and paid over the coming year. This budget helps to plan for the upcoming year and makes the necessary adjustments in cash flow to cover expenses.  The City of Crofton 's Annual Budget is a vital instrument in accurately projecting future cash flow and effectively managing incoming revenue and existing debt.

Frequently Asked Questions

When are budgets due?

Budgets are due on or before September 20th each year.

When do County Assessors' certify valuations?

County Assessors' must certify valuations on or before August 20th each year.

What are the options for giving notice for the budget hearing?

  1. Publish this notice in a newspaper of general circulation. The notice must be published at least five days prior to the date of the hearing. If the notice is published, you must submit a copy of the affidavit of publication from the printer.
  2. Post at the governing body's principal headquarters. This option is only available if the total budget of disbursements and transfers does not exceed $10,000.

LB 568, passed in the 202 Legislative Session, removed the ability to mail notices to each resident. Notices can only be published or posted.

 

What needs to happen if the budget adopted is different from the published budget?

If the adopted budget reflects a change from what was published, a notice of the summary of changes must be made within twenty (20) days after its adoption setting forth the items changed and the reasons for such changes. No public hearing is required as long as the summary of changes is published within twenty (20) days.

 

 

If a summary of changes is not provided within 20 days, the budget has not been legally adopted. The governing body must conduct another budget hearing, giving proper notice, and re-adopt its budget.

 

What does the lid on restricted funds mean to my political subdivision?

The biggest misconception about the lid on restricted funds is that the lid is on disbursements. There is no lid on disbursements. The lid on restricted funds is based on the amount of property tax and State Aid a political subdivision can receive each year.