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).

2021 Budget Timeline

TASK NAME
START DATE
FINISH DATE
Budget Season Kick-off
6/22/2020
12/31/2020
Work Session/Priority Setting/Economic Outlook - Mayor and Board of Trustees
6/30/20206/30/2020
Work Session  - Mayor and Board of Trustees
9/15/20209/15/2020
Work Session  - Mayor and Board of Trustees
10/6/202010/6/2020
Public Hearing - Mayor and Board of Trustees
10/27/202010/27/2020
Public Hearing - Mayor and Board of Trustees
11/10/202011/10/2020
Staff Works on Finalizing Budget
11/25/202012/8/2020
Budget Adoption - Mayor and Board of Trustees
12/8/202012/8/2020
Budget Wrap-Up12/9/202012/31/2020