City Council to Discuss Budget Process and Timeline at Winter Retreat

This month, the Virginia Beach City Council will meet for two days at its annual retreat, where it will take a deeper dive into the City’s budget.

In addition to the budget process and timeline, the agenda includes discussions of community engagement on the budget, comparing Virginia Beach’s tax structure to other localities, budget drivers, state and federal revenue, major projects, Capital Improvement Program (CIP) and council priorities. 

The retreat will be open to the public to attend. It will be 8 a.m. to 5 p.m., Jan. 26, and 8 a.m. to noon, Jan. 27, at the Virginia Beach Convention Center. 

It also will be livestreamed on the City's website and Facebook page, cablecast live on VB NOW via Cox channel 48 and Verizon channel 45, and posted to YouTube within 36 hours of the meeting’s conclusion.  

The City’s fiscal year runs from July 1 to June 30, and its budget has two parts: Operating and the CIP. The Operating Budget details spending needs for the upcoming fiscal year. The CIP is the City’s plan for future funding for large-scale projects, including constructing, maintaining and improving facilities and infrastructure such as schools, roadways, public buildings, parks and recreation facilities. 

FY 2026-27 Budget Process

The budget process for fiscal year 2026-27 officially kicked off in November with the presentation of the Five-Year Forecast which gives a first look at the City’s overall financial position, so that the City Council and the Virginia Beach City Public Schools (VBCPS) School Board can begin policy discussions. 

• February: The City Council and the public receive the annual report of real estate assessments for FY 2026-27, and the Department of Budget and Management Services uses it to update the school funding formula to provide to Virginia Beach City Public Schools. The superintendent will present to the School Board a proposed estimate of needs. VBCPS holds workshops and public hearings before their budget is adopted by the School Board. 
• March: The Schools’ budget request is approved by the School Board in March, and the city manager presents the proposed operating budget of both the City and Schools to City Council on March 24. The proposed budget is available for the residents to view at public libraries, City Hall and online at budget.VirginiaBeach.gov. 
• April: City Council hears from individual department directors on their proposed budgets. Two public hearings, scheduled for April 15 and April 21, provide residents an opportunity to comment on the proposed budget. Residents also may comment through online opportunities at SpeakUpVB.com and at budget.VirginiaBeach.gov as well.
• May: The reconciliation workshop, when City Council and the city manager work out changes to the proposed budget, is a week before the state-mandated deadline of May 15 for the budget to be adopted. This year the budget is scheduled to be adopted on May 12.  

Learn more by visiting budget.VirginiaBeach.gov. Watch the City Council meetings and be prepared to provide your input on the proposed budget in April. Subscribe now to get updates on the City’s budget process and how you can provide your input before major decisions are made. 

• View Adopted FY26 Budget
• Budget & Management Services