Budget planning steps

Planning the budget for the coming year is a months-long process involving many people.
Step 1

Information gathering


City staff prepare information that helps the Mayor develop a budget.

This includes:

  • A base budget that continues the commitments in the prior year budget.
  • An analysis of each department's accomplishments over the past year. 
  • A year-end budget status report — the final, audited Annual Comprehensive Financial Report is not available until the second quarter.
  • A capital improvement proposal for the coming year.

See how Capital Long-Range Improvements Committee (CLIC) gets involved


Step 2

Budget development

Step 3

Mayor's Budget Recommendation

Step 4

Public hearings


The Board of Estimate and Taxation (BET) sets the property tax levy.

 Learn about the Board of Estimate and Taxation (BET)

Step 5

Budget review

September-early December

City Council

  • Reviews the Mayor's recommended budget
  • Holds public hearings to get resident input
  • Listens to department leaders on how the budget will affect their work 
  • Makes changes to the recommended budget



Step 6

Budget review

By late November 

Residents receive Hennepin County estimated tax statements for the following year.

  • The statement gives an estimate of your city, county and school district taxes.
  • It also gives you the the date of the Truth in Taxation hearing for the city portion of your property taxes. 



Step 7

City Council adopts final budget

By mid-December

City Council does their part.

This includes:

  • Finalizes its amendments to the Mayor's recommended budget
  • Adopts the final budget
  • Submits the budget to the Mayor for approval

Contact us

Finance & Property Services




Physical Address
Public Service Center
250 S. Fourth St., Room 401
Minneapolis, MN 55415
Mailing Address
City Hall
350 S. Fifth St., Room 325M
Minneapolis, MN 55415