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Town Budget
Through the Town Budget...
The Mayor and Town Council determine the level of funding for Town operations and services, as well as funding for capital projects.  The Town budget is adopted annually for the fiscal year beginning July 1 through June 30 in accordance with North Carolina General Statutes (G.S. 159-13), which require that the budget be balanced.  In other words, total expenditures cannot exceed the amount of revenues and appropriated fund balance.


By State Statute...
The proposed budget must be delivered to the Mayor and Council no later than June 1st and adopted before July 1st. Budget workshops are held during May and June, and a public hearing is held so citizens can voice their questions and concerns about the proposed budget.

Copies...
Of the Approved Budget are available online for review or you may view a copy at the Town Clerk's office at Town Hall, 316 East Murray Street, or at the Public Library on Main Street.  The newly adopted budget will be ready on or about July 1 of each year.

The Budget Process...
Begins in January when Finance staff prepares the Budget Manual, which gives departments guidance on submitting their requests. Finance then holds training sessions to provide additional guidance and assistance to key staff. In addition, members of the Finance staff are assigned as department liaisons to assist with budget preparation, answer questions, and help solve any problems arising during the process.

Once all requests are submitted to Finance, reviewed, and entered into the Town's financial system, the Town Manager, Finance Director, and department liaisons meet with each department and division to discuss their needs. Revenue projections are also prepared, which determine how many of the departments' requests can be funded and how much must be cut from the budget. Once all decisions are made, Finance staff prepares the budget book and provides copies to Council and the Town Manager. Copies are also provided for public viewing in the Town Clerk's Office and the Thelma Dingus Bryant Library.


Town of Wallace • 316 East Murray St. • Wallace, NC 28466 • Ph: 910-285-4136 • Fx: 910-285-5135 • mail@townofwallace.com
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