The City of Eufaula operates under the Municipal Budget Act on a Fiscal Year budget from July 1 to June 30. The budget development process for the upcoming year begins in February. The process includes a review of prior revenues and expenditures, an analysis of funding priorities, and input from the City Council, staff, and the public.
The City Council adopts the budget and may amend it throughout the year as needed. The City Manager is responsible for the administration of the budget after it goes into effect.
The City of Eufaula and the associated public trusts are audited on an annual basis by an independent auditor. Audits are filed with the Oklahoma State Auditor and Inspector.