Purposes of the City budget
The City of Salem budget is a legal document providing City authority to spend public money. The City budget is:
- a one year financial plan based upon estimates for revenues and expenses
- a guide to promote valid and accurate accounting, used by City Council, staff, and City auditors
- a policy document that reflects the plans and priorities of the City and communicates these goals to the public
Oregon budget law
The budget is prepared in accordance with Oregon Budget Law, Chapter 294 and must be balanced. The law establishes standard procedures for preparing, presenting, and administering the budget. It defines the role of the Budget Committee. The law also requires citizen involvement in preparation of the budget and public disclosure of the budget before adoption by the City Council. Determined by law, the City operates on a fiscal year, beginning July 1 and ending June 30.