The City Budget is the financial plan for a one year period. All cities in Oregon have a fiscal year that begins on July 1st, and ends on June 30th. This schedule is set by the state. Cities in Oregon must plan a balanced budget, meaning the available funds and expenses must be equal. Operating costs, as well as reserves for unexpected events or future projects are all accounted for. The budget allows the City to spend money, and sets a limit on how much can be spent. The process of creating the budget begins in April of each year, and must be completed by June 30th. For more information on how the budget works, see “Budgeting Basics” in supporting documents below. Current budget information is also available below.
City Finance Fundamentals
The State requires that the City used fund based accounting. This means that financial needs are separated by specific corresponding accounts. The City of Halsey operates under the following funds:
- General Fund
- Street Fund
- Street & Pathway Fund
- Bond Fund
- Library Fund
- Water Fund
- Sewer Fund
- Water Reserve Fund
- Sewer Reserve Fund
- Storm Water Blue Heron Fund
- Storm Water Drainage Fund
- Water System Development Charges Fund
- Sewer System Development Charges Fund
- Storm Water System Development Fund
- Veterans Memorial Park Fund
- Halsey City Park Fund
Revenue
The City’s revenue comes from the following sources:
- Water & Sewer Revenue
- Property Taxes & Assessments
- State Revenue Sharing
- Franchise Fees
- Licenses & Permits
- Fines
Document Center
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