To view the Proposed Fiscal Year 2024 City Budget, click here.

To view the FY 2023 Budget Worksession Presentation, click here.

The City operates on a fiscal year, running from July 1 to June 30. The budget process begins in January with guidelines issued to department directors by the City Manager. Departmental requests are prepared and submitted in February. The City Manager meets with each department director to discuss their requests. Changes and revisions to the requests and revenue projections are incorporated into the Proposed Budget which is submitted to the Mayor & Council by the end of March.

The Mayor and Council hold two Saturday, day long work-sessions in March/April to review and discuss the Proposed Budget with the City Manager and directors. A budget ordinance is introduced at a regular meeting of the City Council in late April and a public hearing on that ordinance is held in early May. A budget ordinance is required by Charter to be adopted by May 31.

The basis of budgeting for all funds conforms to generally accepted accounting principles. The Budget is organized by groups of accounts known as Funds. Each Fund is considered a separate accounting entity with its own assets, liabilities, equity (fund balance), revenues and expenses.

Certificate of Achievement in Financial Reporting

January 6, 2023 - The Government Finance Officers Association of the United States and Canada (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to City of College Park for its annual comprehensive financial report for the fiscal year ended June 30, 2021. The report has been judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the report.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.

This is the 42 consecutive year that the City has achieved this prestigious award.

Below is the schedule for the FY2021 budget. Schedule will be updated as necessary.

Operating Budget worksheets distributed to departments	January 4, 2021
Prepare the FY2022-FY2026 CIP (Staff input & document)	January 2021
FY22 Budget preview discussion with Mayor & Council *Review Cost/Fees Study	Tues. January 19, 2021
Mayor & Council requests for FY22 budget due	Fri. January 30, 2020
Prepare cost estimates of Mayor & Council requests Revenue projections & payroll info prepared by Finance	January - February 2021
Department budget worksheets due – returned to Finance	Fri. January 29, 2021
Mayor & Council requests for FY22 Budget due	Fri. February 5, 2021
Budget review meetings with City Manager, Finance Director and Department Director	Wed. February 3 - Tues. Feb 9
FY22 Proposed Budget & CIP distributed to Mayor & Council and posted on City website	Fri. March 12, 2021
FY22 Proposed Budget & CIP Worksession FY22 Budget Ordinance Introduced - City Council Meeting (includes changes from Budget Worksession)	Sat. March 27 at 8 am & Tues. March 30 at 7:30 pm Tues. April 27, 2021
Advertisement in Washington Post for Public Hearings on: FY22 Proposed Budget & CIP Constant Yield Tax Rate (if needed)	Thurs. April 29, 2021
Hold Public Hearings on (1) FY2022 Proposed Budget & CIP and (2) Constant yield tax rate (if needed)	Tues. May 11, 2021
Worksession discussion of changes to the proposed budget as a result of the Public Hearings (if needed)	Tuesday May 18, 2021 (if needed)
Adopt FY22 budget ordinance (including CIP)	Tues. May 25, 2021
Effective date of FY22 Adopted Budget FY2022 Budget in Brief Pamphlet	July 1, 2021