The Fiscal Year for the Town of North East runs from July 1 to June 30 each year. Prior to the start of the fiscal year, the Mayor and Commissioners will have a public work session  to discuss the fiscal picture of the upcoming year. After that a public hearing is held to formally unveil the budget to the public and allow for any testimony to be considered by the Mayor and Commissioners before the budget is adopted. After the public hearing, the Mayor and Commissioners vote on approving a final budget for the fiscal year.

When the budget is adopted, the Mayor and Commissioners also adopt the Real Estate Property Tax Rate and Water Service Charges as well as various other administrative fees for the upcoming fiscal year.

After the budget is passed, it may be necessary for appropriations to be increased, decreased, or reallocated during the course of the year. Quarterly budget amendments are presented to the Mayor and Commissioner for approval.