City of Murray, Kentucky

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Budget & Audit

The City's fiscal year runs from July 1 through June 30. Each spring, the Mayor's office and City Council work to develop the coming fiscal year's budget. Generally, the process involves meeting to discuss specific budgetary priorities, General Fund and Utility Fund requests, as well as hearing requests from various outside organizations for special appropriations. The Mayor's Office reviews budget variance reports monthly for each department to ensure compliance with the current fiscal year's budget.

Additionally, the City undergoes a full financial audit at the end of each fiscal year. The audit is intended to assure the City stakeholders that the City's financial records comply with generally accepted accounting principals. The City's audit occurs in the fall and is reported to the Mayor's office as well as the full City Council.

The City's General Fund audited receipts and expenditures for the last seven fiscal years are given above. Moreover, the budgeted receipts and expenditures for the prior and current fiscal years are also shown. The Audited and Anticipated Reserves line represents actual City reserves (i.e., the City's treasury) for prior years and current projections of the General Fund's reserves at year's end.

Current and prior years' budgets, audits, and budget variance reports are available in the downloads section below.