§ City government · Budget timeline

From proposal to spending.

One line from the first department requests to the last dollar of the fiscal year: how the $144.5 million FY 2026–2027 budget was built, heard, adopted, and spent.

The year at a glance

Proposed total

$144,473,884

Funds

13

Fiscal year

Oct 1 – Sep 30

Current phase

Spending year underway

Source: City of Lake Wales, proposed FY 2026-2027 budget — Ordinances 2026-18 and 2026-19, first reading September 2, 2026.

Phase 1 · Building the proposal

1. Proposed

   May

   Goals and department requests

   Staff and the commission work through this stage before anything is advertised to the public.

2. Proposed

   June–July

   Proposed expenditures, revenue estimates, and workshops

   Staff and the commission work through this stage before anything is advertised to the public.

3. Proposed

   August

   Balanced proposed budget and revisions

   Staff and the commission work through this stage before anything is advertised to the public.

4. Proposed

   September

   Two public hearings, millage-rate decision, and final adoption

   Staff and the commission work through this stage before anything is advertised to the public.

Phase 2 · Public hearings

1. Hearing

   July 15, 2026

   Taxable value certified, interim millage set

   The City Commission accepted the Polk County Property Appraiser's 2026 certification of taxable value, set the interim millage rate, and set the FY 2026-2027 budget hearing dates.

2. Hearing

   September 2, 2026

   First reading and public hearing

   Ordinance 2026-18 (millage rate of 8.0462 mills) and Ordinance 2026-19 (operating budget) received first reading and separate public hearings at the 2:00 p.m. commission workshop, 201 W. Central Avenue.

3. Hearing

   September 9, 2026

   Budget hearings, regular meeting

   Budget hearings for Ordinances 2026-18 and 2026-19 were carried on the 6:00 p.m. regular meeting agenda in Commission Chambers, 201 W. Central Avenue.

4. Needs verification

   Date to confirm

   Final adoption

   The final adoption date and adopted totals should be confirmed against the city's adopted ordinance before being cited as final.

Phase 3 · The spending year

1. Spending

   October 1, 2026

   The fiscal year begins

   Once adopted, the budget takes effect October 1, 2026 and runs through September 30, 2027. Spending falls into four broad categories:

   • Operating Expenditures$51,696,497
   • Capital Outlay (Schedule C)$70,358,057
   • Transfers Out$4,783,813
   • Fund Balances and Reserves$17,635,517