Budget Process

Understanding Richmond’s Annual Budget Process

The City of Richmond’s budget is more than numbers—it’s a plan for how we invest in our community. Each year, the budget process follows a structured timeline to ensure transparency, accountability, and public input. Here’s how it works:

September – Kickoff & Guidance

The process begins with a formal kickoff. Departments receive guidance on how to prepare and submit their budget requests.

October – Submission & Review

City departments submit their requests for operating budgets and multi-year plans. Budget staff begins reviewing these submissions.

November – Debt, Capital Projects & Utilities

Budget and Finance teams analyze funding sources, affordability, and projections. Decisions start on which projects will be included in the upcoming Capital Improvement Plan (CIP).

December – Priorities & Projections

City leadership sets priorities for the year. Revenue forecasting and initial budget reviews begin.

January – Personnel & Preliminary Recommendations

Personnel and benefit costs are evaluated. Budget meetings are held with departments, leadership, and City Council members.

February – Balancing & Finalization

Balancing meetings occur to align spending with available resources. The School Board submits its request, and final recommendations are prepared.

March – Presentation & Work Sessions

The Mayor presents the proposed budget to City Council. Council begins work sessions to review and discuss the proposal.

April – Hearings & Amendments

Public hearings are held, and City Council reviews proposed amendments. This is a key opportunity for community input.

May – Budget Adoption

City Council adopts budgets for schools and city funds after required hearings.

June – Final Adjustments

Budget staff finalizes amendments and ensures systems are ready for implementation.

July – Implementation

The new fiscal year begins. The adopted budget is published online for public access.

Want to Learn More?

• View the Current Budget

• Explore Budget FAQs

• See How You Can Participate