Budget and Accountability
The municipal budget outlines the plans the municipality of Opsterland has for the coming year and the costs associated with those plans. The budget forms the financial basis for municipal policy and shows the choices being made, the goals being pursued, and how available resources are being allocated.
Whether you're interested in the latest plans or would like to look back at previous years, this page offers a clear and accessible starting point.
How do you read financial statements?
1. The Outlook Letter (or Outlook Memorandum)
What are we going to do?
The Vision Statement is a letter about the future. In it, we look ahead to the plans for the next four years. The city council uses this letter to decide what is most important for Opsterland.
- What's in it? The big plans. For example: Are we going to build a new school, improve bike paths, or provide extra assistance to residents?
- When? We usually write this letter in the summer.
2. The Budget
How much will that cost exactly, and where will the money come from?
Once the major plans have been selected, we draw up a detailed overview of the funds for the coming year. We call this overview the budget.
- What's in it? An overview of all revenue (such as tax revenue) and all expenditures (such as road and park maintenance) for the new year.
- When? We prepare the budget in the fall (usually in November).
3. The Annual Financial Statements (or Annual Accounts)
Did we do what we promised?
At the end of the year, we look back. In the annual report, we document what actually happened. We check whether our plans were successful and whether we stayed within budget.
- What's in it? The final results. Have we spent all the money that was in the budget? And were all the plans actually completed?
- When? We prepare the annual financial statements in the spring of the following year.
Accountability: Who Does What?
The financial and policy frameworks are established by the city council. The College of Mayor and Aldermen is responsible for implementing the policy and is accountable to the council for it each year.