Operating Budget
The Operating Budget is an annual plan that outlines the City’s expected revenues and expenditures for the fiscal year. It follows a zero-based budgeting approach, meaning each year’s budget is built on anticipated revenues and departmental needs.
Each department and division submits projected expenses for the upcoming year, which are reviewed by the Mayor and Finance Director. These projections are then compiled into the City’s annual operating budget and submitted to City Council for review and formal adoption.
In accordance with City Charter Section 22.04 – Annual Appropriations, City Council must adopt an appropriations ordinance—either as submitted or with amendments—by the last working day of December each year. This ordinance authorizes funding for each program and activity by department and allows the City to begin spending on January 1 of the new fiscal year.
Capital Budget
The City also updates its Capital Improvement Plan (CIP) annually. This plan outlines anticipated investments in infrastructure, equipment, and other long-term projects and is guided by City of Stow Ordinance Chapter 119 – Capital Improvement Plan. You can view the ordinance here.