Budget
The annual budget serves as the cornerstone of the Town of Cape Elizabeth’s financial plan, detailing projected revenues and planned expenditures for the fiscal year to ensure efficient operations and meet the needs of the community. In accordance with Article V of the Town Charter, the Town Manager shall submit a budget to the Town Council at least 75 days prior to the beginning of each fiscal year. The proposed budget is reviewed by the council, who may approve or amend the total appropriation for all town departments and agencies no later than 30 days prior to the first day of the new fiscal year.
The Municipal budget includes three basic funds:
- GENERAL FUND - This is where the taxes and all general services are.
- SPECIAL REVENUE FUND - Are for specific purposes, earmarked by grants for a specific item. The town's sewer fund is an example of a current special revenue fund.
- CAPITAL PROJECT FUNDS - Funds for capital projects and acquisition of purchases.
The budget process for Cape Elizabeth begins in January with each municipal department’s draft budget due to the Town Manager. At the beginning of March, the Manager’s recommended budget is delivered to the Town Council. The Town Council Finance Committee, made up of all seven councilors, reviews the budget in mid-March over two budget workshops. In mid-April, the School Board delivers the Cape Elizabeth School Department’s budget to the council. At the end of April, the Finance Committee and School Board meet in a workshop to review.
A public hearing on both the Municipal Budget and the School Department Budget is held the first week of May. The second week in May the Town Council votes to adopt the Fiscal Year Municipal General Fund Operating Budget In addition, the council votes to approve the School Department Budget which, once approved, is sent to a local referendum the second week of June.
Budget Materials for Proposed Fiscal Year Budget for July 1, 2025 - June 30, 2026:
Fiscal Year 2025-2026 Budget
Current Fiscal Year Budget ending June 30, 2025:
Fiscal Year 2024-2025 Budget
Budgets in Prior Years:
