Budget Process

The budget has been structured and prepared using the guidelines of the Governmental Finance Officers Association (GFOA). Two sources, Governmental Accounting, Auditing and Financial Reporting (GAAFR) and the Governmental Accounting Standards Board (GASB) guide the financial reporting and annual budget process.  The Town of Frederick prepares its budget on a calendar year basis as required by state statute.  The budget must be balanced or show a revenue surplus.  "Balanced budget" is defined as "a balance between total estimated expenditures and total anticipated revenues, including surpluses."  This means that the appropriated expenditures cannot exceed the sum of the revenues and beginning fund balance.  The Town of Frederick’s definition of a "Balanced Budget" does comply with the statutory requirements for the State of Colorado located in C.R.S.  29-1-103 (2).

The Town of Frederick is committed to transparency and community involvement in its budget decisions. To uphold this commitment, the Board of Trustees hosts public hearings for the proposed annual budget each year in the Board Chambers at Town Hall (401 Locust St.). These hearings provide residents with an opportunity to share input, ask questions, and help shape the Town’s financial plan for the upcoming year.

The proposed budget is made available online and in person at Town Hall for easy access and review. The final budget adoption and mill levy certification take place during a subsequent meeting of the Board of Trustees. Your participation ensures your voice is heard and helps guide the Town’s fiscal priorities.