The City Manager, with the assistance of the City Executive Leadership Team prepares a Proposed Budget for presentation to the City Council each spring. A Public Hearing is then held on the budget and the City Council approves the budget in June for the next fiscal year. Budget updates are presented publicly to the Council quarterly with estimates and projections on the budget vs actual expenditures. Final actual expenditures are not accounted for until the completion of the City's annual audit and issuance of the Annual Comprehensive Financial Report.