City Budget

Budget (Fiscal) Year
The City of Belmont budget year runs from July 1 through June 30 of the following year.

City Budget Process
  1. The city manager and staff propose the annual budget and present it to the city council for consideration.
  2. The city is required to adopt a balanced city budget by June 30 for the upcoming budget year, following a public hearing on the proposed budget.
  1. General Fund
  2. Stormwater Fund
  3. Tourism Fund
  4. Water & Sewer Fund

General Fund


  • The proposed general fund budget is $10,297,947, an increase of 1.3% over the current budget, is amended.
  • The general fund revenues come overwhelmingly from 3 sources which comprise 84% of general fund revenues:
    • Local option sales taxes
    • Property taxes
    • Utility franchise taxes
  • The proposed budget keeps the property tax rate unchanged at 47.5 cents per $100 in property valuation.
  • Based on a total property valuation of $1,194,000,000, property taxes are projected to provide $5,270,000.
  • Local option sales taxes are estimated to provide $2,500,000, a 6.6% increase from the current year. This increase is due to continued strengthening economic forecasts and past performance.
  • The utility franchise tax is projected to provide $875,000.



The general fund expenditures are broken into the various city departments covered by this fund. It includes:
  • A 3% salary increase for all city employees
  • All general fund operations
  • Debt service for the new Kevin Loftin Riverfront Park

Current Budget

The city council adopted the budget on June 27, 2016. You may contact city hall at 704-825-5586 for a copy of the adopted city budget.

Types of Funds

The city budget consists of 4 different funds:
  • General Fund
  • Stormwater Fund
  • Tourism Fund
  • Water and Sewer Fund

Revenue Sources

Each fund has a different source of revenue that cannot be mixed.
  • The General Fund covers most city operations, such as:
    • Fire
    • Parks and Recreation
    • Planning
    • Police
    • Streets
    • Sidewalks
  • The Stormwater Fund provides drainage improvement projects,
  • The Tourism Fund promotes Belmont as a tourist destination.
  • The Water and Sewer Fund covers the operation and maintenance of the city water and sewer infrastructure and provides drinking water to city customers.

FY2015-2016 Budget Highlights