Proposed Budget
The city manager’s proposed budget is required to be presented to the Virginia Beach City Council by the end of March each year.
Budget & Management Services
After presentation and City Council discussion, a public input period is open for residents to provide feedback on the proposed budget and any potential changes.
City Council holds a Reconciliation Workshop during the first week of May before voting on the final budget.
FY 24 Proposed Documents
Executive Summary
A comprehensive overview of the policies that guide the development and implementation of the annual budget.
This document is designed to provide a quick understanding of the financing strategies of the City.
Operating Budget
Detailed information on the City’s anticipated spending needs for the upcoming fiscal year, beginning July 1 and ending June 30.
It provides detailed discussions of revenues and appropriations for each department.
CIP Budget
The annual Capital Improvement Program (CIP) Budget is organized into sections based on functional areas, which include a brief description of the project, a financing plan and a map, if applicable.
Watch the presentation to City Council from the Real Estate Assessor. Starts at 0:50.
Watch the presentation to City Council on the proposed budget. Starts at 46:40.
Watch the presentation to City Council on proposed tax relief options. Starts at 27:45.
At the March 21, 2023, City Council meeting, City Council requested “sliding scale” options for tax rate reductions between 1 cent and 4 cents of the real estate tax. When creating a sliding scale for real estate tax reductions, City leadership made a few assumptions, including that all dedications and existing policies remain the same and that reductions initially focus on major budget changes prior to baseline services.
With each penny reduction, a corresponding reduction will need to be made for General Fund expenditures for both the School and City operations.
The reduction options provided are options for consideration but are not intended to be presented as the only possible reduction options.
The list primarily targets staffing and Operating Budget additions included in the City Manager’s Proposed FY 2023-24 Operating Budget and CIP.
The reduction options are categorized into one of six categories: Tourism, Quality of Life, Communications/Customer Services, Recruitment and Retention, Maintenance and Public Safety.
City Council held its Reconciliation Workshop on the budget on May 2. Read a detailed list of all recommended changes outlined in the FY24 (July 1, 2023, to June 30, 2024) Resource Management Reconciliation Letter as well as specifics concerning funding sources and appropriation adjustments.
Read Reconciliation Letter