The Budget Process

Every two years, the City is required to adopt a structurally balanced budget, meaning ongoing operating revenues are greater than or equal to ongoing operating expenditures.  The City has a variety of revenue streams to meet the costs of services provided to our residents. If a shortfall occurs, the City is unable to simply raise taxes to meet the costs to fund the various services the City provides. With finite financial resources to provide local services, programs, and projects, your input is essential to assist City leadership with budgeting priorities. The budget is not a static document, it is a strategic spending plan for our community.

 
person with black glasses and blonde hair smiling at a computer with a white coffee mug and to go container of food next to it. TV behind person.

Step 1

Community Engagement - January 2023 - May 2023

In-person and ongoing virtual engagement

 
laptop open with youtube app open showing City Council Meeting from 8/25/2020. 5 Council members sitting on dias with text stating "city council".

Step 2


City Council Goal Setting - May 23, 2023

City Council reviews and adjusts top priorities for the upcoming fiscal year

finance tracker and monthly budget overview printouts on a white table with a gold pen and brown holder with paperclips.

Step 3

Development of Capital Improvement Program (CIP) Budget: November 2022-April 2023

Development of Operating Budget: December 2022-May 2023

Finance Department prepares drafts of the Operating and CIP Budgets

 
six City employees wearing orange vests working on repaving road in Thousand Oaks.

Step 4


CIP Budget Study Session - April 4, 2023

City Council reviews and hears public comments on the CIP Budget

landscape photo of open space with yellow poppies and green grasses.

Step 5

Operating Budget Study Session - May 9, 2023

City Council reviews and hears public comments on the Operating Budget

 
Top view of Los Feliz Drive and Thousand Oaks Blvd in Thousand Oaks.

Step 6

City Council Public Hearing on the Operating and CIP Budgets - June 6, 2023

Revised Operating and CIP Budget go before City Council for adoption

City Council Members and Public Works City Staff posing for a photo in front of the Council dias during Public Works Week

Step 7

Fiscal Year 2023-24 starts on July 1, 2023

FY 2023-24 and 2024-25 Budgets will be posted online at toaks.org/budget