The Larkspur Town Charter dictates that the Budget be prepared annually. The Charter also dictates that the Town complete an annual audit. The fiscal year of the Town begins on the first day of January.
The Town Budget includes four separate funds: General, CTF, Road & Bridge and Water & Sewer. In June, the Mayor, Town Council and staff begin to work on the next years budget. Once the details of the budget have been worked out, a budget hearing must be scheduled by December 1st, prior to the close of the fiscal year. After the public hearing, the Council may adopt the budget with or without amendment.
The Larkspur Town Charter also dictates an annual independent Audit shall be made of all Town accounts. Such audit shall be made by certified public accountants selected by Council who shall complete the audit within four months time of the close of the fiscal year.