In its inaugural meeting on April 29, South Fulton’s City Council selected a Fiscal (Budget) Year that begins October 1. This date was selected for two reasons:
1) A large portion of the city’s revenue comes from Property Taxes. Fulton County’s Tax Commissioner Arthur Ferdinand sends out Property Tax bills in the Summer, and collects most taxes by October.
2) October 1 is when the Federal Budget Year begins.
By starting our Fiscal Year on October 1, South Fulton’s Chief Financial Officer (CFO) Frank Milazi, CPFA, CPFIMcan create a budget will factual numbers of real money that has been collected, not estimates of what we hope to collect (as would be the case if we started our budget year in January or June).
Before the beginning of each Fiscal Year (FY), the CFO & City Manager will present a Proposed Budget to the City Council, which will then hold a special session to hear feedback from South Fulton citizens before making amendments and approving.
FY2018 will begin October 1, 2017 (much like 2018 Graduation Year begins Fall 2017). However, the new City must have a Budget for the five months from May 1 (our founding date) to September 30, 2017. These five months are FY2017. If you someone talking about South Fulton’s “2017 Budget,” they are likely referring to these five months.
Before Swearing in a City Council April 29, South Fulton had no CFO or City Manager to create a budget, and no City Council to submit that budget to or hold public hearings for. So in this unique situation, South Fulton City Council will hold a Public Hearing this June for our FY2017 Budget, which covers the five months from our founding May 1 to September 30, 2017.
Click the picture above or the link below to view the Proposed Budget, which can also be found on the Open Records link at the bottom of the City’s Webpage, www.CityofSouthFultonGA.gov,
Below is a list of Budget Hearing Dates for the FY2017 Budget. This process will repeat in September for the FY2018 Budget, which begins October 1, 2017.
FY2017 BUDGET DATES
May 30 – Proposed Budget Presented by CFO
June 6 – Council Hearing for Public Comments from Citizens
June 13 – Council Approves Final FY2017 Budget