Budget planning steps

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

Information gathering

January - April

City staff prepare information that helps the Mayor develop a budget, including:

  • 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 the 2020 City Department performance reports

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


Step 2

Budget development

Step 3

Mayor's Budget Recommendation

Step 4

Public hearings


Step 5

Budget review

September - early December

The City Council

  • Reviews the Mayor's proposed budget
  • Holds public hearings to get resident input
  • Listens to department leaders about how the budget will affect their work 
  • Makes recommended adjustments to the 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.
    • This is the final hearing before the budget is approved by the City Council
    • It only addresses the city portion of your property taxes



Step 7

City Council adopts final budget

By mid-December

The City Council

  • Finalizes its amendments to the Mayor's budget
  • Adopts the final budget

Contact us

Finance & Property Services




City Hall
350 S. Fifth St., Room 325M
Minneapolis, MN 55415