Town Budget

The Town’s Budget is its strategic plan for the year, determining what programs and activities get funded. After staff develops a proposed budget in the winter, the Town Council spends many meetings and worksessions reviewing the proposed budget. In addition, the Town Council holds Public Hearings to get input on the budget proposal.

The Town's fiscal year runs from July 1 - June 30.

ADOPTED FY 2026 BUDGET

TOWN COUNCIL ADOPTS FY 2026 BUDGET

At its June 12, 2025 meeting, the Town Council adopted the FY 2026 Budget. This was a result of numerous meetings, discussions on revenues, considerations of utility rates, and review of ongoing economic trends.

Mayor Littleton begins his letter to the citizens of Middleburg with the following words:

"On behalf of the Middleburg Town Council, I am pleased to present the Town’s Budget for Fiscal Year 2026 (FY26), which runs from July 1, 2025, to June 30, 2026. This budget funds key initiatives of the Town Council, provides for ongoing operations of the Town organization, recognizes ongoing investment in community priorities, and plans for future infrastructure needs. The FY26 Budget is balanced, including a contingency of unallocated revenues, and ensures the continued fiscal strength of the Town of Middleburg. I am proud to say that the budget was once again approved on a unanimous basis, demonstrating the positive and collaborative nature of our Town Council.

As part of the FY26 Budget process, the Town Council again lowered the Real Property Tax Rate – this year from 12.36 cents to 12.00 cents per $100 of assessed value. This tax rate decrease is in response to the ongoing increase in real property assessed values across most categories of real property. The Town Council also eliminated the “Vehicle License Fee” and did not increase any other taxes. Although recent economic fluctuations and unexpected national policies have led to uncertainty in the Town’s primary revenues, specifically in the areas of Meals Tax and Transient Occupancy Tax, the Town’s revenue streams remain strong. Regardless, the Town is budgeting conservatively for these revenues in order to be most prudent with our resources."

Read more of Mayor Littleton's budget message and see the budget details at this link: FY2026 Adopted Budget

UPDATES TO PROPOSED FY2026 BUDGET

During review of the Town Manager's proposed budget, the Town Council held numerous budget discussions. In addition, the Strategic Finance Committee has reviewed the budget, specifically focused on revenues, long-term debt, and the Town's fund balance.

Due to national and global economic circumstances, the Town Manager has proposed an "Option 2" budget to Council, which reduces the expected FY2026 Meals Tax and Transient Occupancy Tax to FY2025 budgeted amounts.

Further, the Town Manager has removed the proposed enhancement in the Police Department for two additional officers.

The discussion of the updated Option 2 proposal can be viewed here (April 24,2025 Town Council Meeting). Further, the Town Council will receive another briefing on the budget at the May 8, 2025 meeting. The May 8th Town Council agenda can be viewed at this link.

A public hearing on the revised Proposed FY2026 Budget and on the proposed Utility Rates will be held on May 22, 2025. Those public hearing notices are available here.

PRIOR YEAR ADOPTED BUDGETS

Each Fiscal Year runs from July 1st to June 30th. You can find the latest budget here, including a message from the Mayor to the public.

You can find prior years’ budgets at this link.

ANNUAL AUDITS

The Town conducts an annual audit (formally called a "Comprehensive Annual Financial Report") through an independent audit firm.

These audits are available at this link.

The audit process begins at the conclusion of each fiscal year and is generally concluded by the end of the calendar year. The audits are reviewed by the Town's Strategic Finance Committee and the Town Council before they are finalized.