The annual budget serves as the foundation for the City of Elmhurst’s financial planning and control. Beginning in September of each year the City prepares a five-year capital improvement plan. The Department Heads are required to submit proposed capital improvements for the next five years to the City Manager. The City Manager, along with the Department Heads and the budget review team, review the requests and develop a proposed five-year capital improvement plan. The proposed five-year capital improvement plan is submitted to the City Council in July. The City Council reviews and approves the five-year Capital Improvement Plan during the month of August. The annual operating budget process starts in August when the Department Heads are required to submit to the City Manager a proposed budget for the next two fiscal years. The City Manager uses these requests and the five-year capital expenditure plan as a starting point for developing a proposed budget. After reviewing the department budget requests with each Department Head and the budget review team, the City Manager presents the proposed budget to the City Council on or before the first meeting in October. The City Council is required to hold a public hearing on the proposed budget and to adopt the final Budget no later than December 31st, of each year.

Beginning with the 2013 budget, the City of Elmhurst will operate on a calendar year based fiscal year with the 2013 budget concluding in 8 months (5/1 – 12/31/13) and the 2014 budget beginning, January 1, 2014, as the first full fiscal year.