Budget Process Part 2‏

Part 2 of the lawful and correct budget process as taken from the Handbooks. http://bit.ly/1jXE7cW I hope this clears up with any one misled or misunderstanding the process.

Fiscal Timetable for Counties Using the Commissioner/Excise Board Budget Method
January 1: The County Assessor lists, appraises, and assesses all property for ad valorem taxation, based on the estimated fair cash value on January 1.
January 1 to March 15: The County Assessor accepts personal property renditions from individuals and businesses, homestead exemption applications, and manufacturer’s exemption applications.

January 1 to the 4th Monday in April: The County Assessor sends notices to those whose exemptions are denied and to anyone whose property value is being increased from the previous year.

While the Board of Equalization is in session The County Assessor begins preparing the assessment role: the taxable value of property is recorded, the assessment ratio is applied to derive the assessed value, and exemptions are deducted from the assessed value to compute the net taxable value.

Before April 30: The County Assessor prepares an exemption reimbursement form to be signed by theBoard of County Commissioners and sent to the Oklahoma Tax Commission (OTC). The exemption reimbursement form shows the amounts of additional homestead and manufacturer’s exemptions that were granted during the previous assessment year. If the OTC approves these exemptions, the State reimburses all or a portion of the taxes lost due to these exemptions. The claims must be approved or disapproved by June 15 each year.

Within twenty (20) days of notice of increase in valuation Taxpayers may file any complaints regarding assessed value or denial of exemption. The County Assessor holds an informal hearing with the taxpayer and makes a decision within five working days. If the taxpayer is still dissatisfied, the taxpayer must file an appeal with the County Board of Equalization within ten (10) working days of the date the notice is mailed or delivered.

April 1 to May 31: The County Board of Equalization in counties with total assessed valuation of less than one billion dollars hears taxpayers’ protests and makes their decisions. In counties greater than one billion dollar valuation, sessions begin the fourth Monday in January, and, if necessary, may extend beyond May 31.

Within 10 days of adjournment of the County Board of Equalization if desired, the County Assessor or the taxpayer may appeal any decision of the County Board of Equalization in district court.

By June 15: The County Assessor must file the annual abstract of assessment with the OTC. Within 10 days of receiving certification The County Assessor files an abstract of assessment with the County Excise Board.
On or before the first Monday in July each county and local governmental entity files a record of earnings and costs for the past year and an estimate of needs for the new fiscal year with the Board of County Commissioners or their governing board. The report shows amounts for personnel (including travel), maintenance and operation, capital outlay, and other appropriate items.

First Monday in July or earlier up to ten (10) days of hearings The County Excise Board meets to organize, elect officers, set dates for the budget hearings and other public meetings.

After beginning of fiscal year the County Excise Board approves temporary appropriations for the new fiscal year.

By July 1: The County Excise Board holds a budget planning conference with each county officer to discuss personnel needs and shall provide, prior to the meeting, a tentative estimate of available revenues for the new fiscal year.
On or before July 25: The County Excise Board apportions the millage as authorized by the Oklahoma Constitution. ARTICLE 10 § 9

On or before July 31: The State Board of Equalization shall cause the assessed valuations of any railroad, air carrier or public service corporation to be certified by the State Auditor and Inspector to the county assessors of each county in which any portion of the property may be located.

By August 17: The Board of County Commissioners files the financial statements and estimates with theCounty Excise Board using a uniform, authorized bookkeeping system. The budget, the financial statement, and the estimate of needs must be published in a legally qualified newspaper.

Within 15 days of filing the budget document, The County Excise Board fixes levies and makes budget appropriations. If property valuations have not been certified, the County Excise Board has 30 days from the time the values are certified to fix levies and make budget appropriations. Budgets are delivered to the Office of the SA&I. The County Clerk publishes a notice that budgets and levies are on file for inspection.

On or before October 1: The County Assessor delivers the tax roll to the County Treasurer and delivers the tax roll abstract to the County Clerk. The county clerk directs the county treasurer to collect the amount contained in the abstract.

November 1: The County Treasurer mails tax statements 30 days after receiving the tax roll to property owners and collects the taxes.

Before January 1: Taxpayers must pay at least one-half of each property’s ad valorem tax levy or they all become delinquent.

Before April 1: Taxpayers must pay the second half of each property’s ad valorem tax levy or they all become delinquent.

Abstract of Assessed Valuations

Within ten days after receiving the certificates of assessment of centrally assessed properties (all the railroads, air carriers, and public service corporations), and the equalized value of real and personal property of the county, the County Assessor prepares and files an Abstract of Assessed Valuations for the county and each municipal subdivision within the county with the County Excise Board. These values are used in preparing the county budgets.
Who Submits Budgets

The following entities should prepare and submit budget estimates to the County Excise Board on SA&I prescribed forms:

• The Board of County Commissioners (except in counties with budget boards).

• The governing body of each city and town (except Municipal Budget Act cities).

• The board of education of each school district.
Budget Planning Conference

The County Excise Board holds a budget planning conference with each principal officer and department head before July 1 to discuss personnel needs for the next fiscal year. Prior to this meeting, the board provides the principal officers with an estimate of probable revenues for the next fiscal year.
County Officers Annual Report

Following the budget planning conference, each county officer and all department heads prepare the county officer’s annual report on SA&I Form No. 1161 or SA&I Form No. 1162, as appropriate. The county officers’ annual report forms are provided by the County Clerk. This report is actually two reports: a financial report of earnings and expenditures and an estimate of needs. This report must be submitted to the Board of County Commissioners (through the County Clerk acting as the secretary to the Board) by the first Monday in July and includes the following information:

• Earnings of the previous fiscal year

• Expenditures of the previous fiscal year

• An estimate of needs for the upcoming fiscal year

The estimate of earnings and the report of prior expenditures show the income received along with the costs of operating the office in the outgoing fiscal year. The estimate of needs is an itemized statement of the revenue needed to operate the office during the upcoming fiscal year.
Role of Board of County Commissioners

On the first Monday in July, the Board of County Commissioners is required by law to meet to begin the following processes:

• Review the county officers’ annual reports

• Prepare the county’s financial statement for the fiscal year ended June 30

• Prepare the county’s annual estimate of needs for the next fiscal year ending June 30
County’s Annual Budget Report

The county’s annual financial statement and annual estimate of needs prepared on SA&I Form No. 2631R97 by the Board of County Commissioners constitute the county’s annual budget report (except in counties with budget boards.) The financial statement should show a list of county monies received and disbursed during the previous fiscal year. The itemized estimated budget for the next fiscal year should include the following information:

• The probable expenses of all elected officers and the county departments for the coming year

• The amount required by law for any sinking fund

• Probable income from sources other than ad valorem taxes

The statutes do specifically prohibit the Board of County Commissioners from including any revenue from nonrecurring sources in this income estimate.
Publication of Financial Statement and Budget

When it is completed, the Board of County Commissioners must have printed a full and accurate county statement of the assessments, receipts, and expenditures of the preceding year. The notice must be published in at least one newspaper in the county, or posted at the courthouse and at a public place in each precinct in the county. Each financial statement and estimate of needs for each county, city, incorporated town, or school district must be published in one issue in some legally qualified newspaper. An affidavit showing the publication must be attached when the financial statements and estimates are filed with theCounty Excise Board.