City Government

Financial Reports

Annual Budget

Requirements for preparing the City's annual budget are outlined in the City Charter. Major procedures in preparing the annual budget are as follows:

1. On or before the 1st Monday in April of each year, the City Manager submits to the City Council an operating budget and capital improvement projections for the ensuing fiscal year.

2. A public hearing on the budget is held not less than one week before the budget’s final adoption at such time as the council shall direct.

3. On or before the last day in May, the Council, by resolution, adopts a budget for the ensuing fiscal year.

4. The City Council adopts the budget by activity categories generally the same as those presented in the combined financial statements. All budget amendments and transfers during the fiscal year are approved by the Council. The City Council has the authority to amend the budget when it becomes apparent that deviations in the original budget will occur and the amount of the deviation can be determined. The City maintains and monitors the budget on a line item basis for accounting control purposes.

2014 - 2015

Financial Audit

A financial audit is conducted at the end of each fiscal year of the financial statements of the governmental activities, the business-type activities, each major fund and the remaining fund information of the City of Bessemer as of, and for, the year that ended June 30, which collectively comprise the City of Bessemer’s basic financial statements. The audit is conducted in-accordance- with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.

2013 - 2014