When local officials are approaching their retirement period, the incentives for promotion will disappear, and they may become more conservative, or more active in pursuing a good reputation in politics after the political career. To find out the truth, this research used the business budget data of the jurisdiction for an empirical investigation into the issues. The research found that: during the last term of office of local officials, the budget revenue growth of enterprises in the jurisdiction increased, budget slack decreased, and budget completion decreased, the results were only in samples with noncentral enterprises, political connections, and low levels of the rule of law; Increasing the budget completion degree of enterprises will not lead to more financial subsidies and tax incentives in the next year; In the last term the local officials will reduce the work in their jurisdictions to complete budgets through earnings management.The conclusion of the article better reveals the impact of the last term of local officials work on the operating budgets of enterprises in their jurisdictions, and provides reference for the regulation of the system of retiring cadres and the management of enterprise operating budgets.