CODE OF VIRGINIA

TIME FOR PREPARATION AND APPROVAL OF BUDGET; CONTENTS (§ 15.2-2503)

All officers and heads of departments, offices, divisions, boards, commissions,
and agencies of every locality shall, on or before the first day of April of
each year, prepare and submit to the governing body an estimate of the amount of
money needed during the ensuing fiscal year for his department, office,
division, board, commission or agency. If such person does not submit an
estimate in accordance with this section, the clerk of the governing body or
other designated person or persons shall prepare and submit an estimate for that
department, office, division, board, commission or agency.The governing body
shall prepare and approve a budget for informative and fiscal planning purposes
only, containing a complete itemized and classified plan of all contemplated
expenditures and all estimated revenues and borrowings for the locality for the
ensuing fiscal year. The itemized contemplated expenditures shall include any
discretionary funds to be designated by individual members of the governing body
and the specific uses and funding allocation planned for those funds by the
individual member; however, notwithstanding any provision of law to the
contrary, general or special, an amendment to a locality’s budget that
changes the uses or allocation or both of such discretionary funds may be
adopted by the governing body of the locality. The governing body shall approve
the budget and fix a tax rate for the budget year no later than the date on
which the fiscal year begins. The governing body shall annually publish the
approved budget on the locality’s website, if any, or shall otherwise make
the approved budget available in hard copy as needed to citizens for inspection.

HISTORY: Code 1950, § 15-575; 1959, Ex. Sess., c. 69; 1962, c. 623, §
15.1-160; 1976, c. 762; 1978, c. 551; 1997, c. 587; 2008, c. 353; 2013, c. 747.