Budget Information

A government budget is a legal document that is often passed by the legislature, and approved by the chief executive-or president. For example, only certain types of revenue may be imposed and collected. Property tax is frequently the basis for municipal and county revenues, while sales tax and/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues.

The two basic elements of any budget are the revenues and expenses. In the case of the government, revenues are derived primarily from taxes. Government expenses include spending on current goods and services, which economists call government consumption; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits.

Budgets have an economic, political and technical basis. Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. The technical element is the forecast of the likely levels of revenues and expenses.

To view our Budget summaries please see below:

CITY OF WATERFORD BUDGET 2016-2017

CITY OF WATERFORD BUDGET 2015-2016

CITY OF WATERFORD BUDGET 2014-2015

CITY OF WATERFORD BUDGET 2013-2014

CITY OF WATERFORD BUDGET 2012-2013

CITY OF WATERFORD BUDGET 2011-2012

CITY OF WATERFORD BUDGET 2010-2011

CITY OF WATERFORD BUDGET 2009-2010

CITY OF WATERFORD BUDGET 2008-2009