The city’s general spending fund could increase by 5.3% to $1.6 billion this coming fiscal year. This week, city manager Eric Walsh presented the proposed fiscal year 2024 budget to City Council + we’re here to turn the 37-slide presentation into a quick morning read.
Tax changes
The proposed total operating budget is $3.7 billion — up from $3.4 billion from last year — and will include a five-cent property tax reduction and an increase in the homestead tax rate to 20%. The new tax rate will be set at $0.54159 per $100 valuation.
Budget focuses
This year’s budget focuses on five top priorities from residents:
Animal Care Services
The city will increase the overall budget by 26% ($26.9 million total) and will include allocations for 29 new positions, spay + neuter services, and rescues and adoptions.
Police Services
Increasing to $570.6 million, nearly 35% of the general spending fund, the city will add $11.9 million for 105 new officers
Homeless Outreach and Encampments
The proposed budget invests $1.4 million and adds four positions to enhance homeless outreach, address homeless encampments, and increase homeless prevention services.
Streets
The city wants to invest $137.5 million towards 1,458 street projects and 29 miles of new sidewalks.
Affordable Housing
With the addition of $41.2 million, the funds will continue the implementation of Strategic Housing Implementation Plan.
New initiatives
A fee increase is coming for solid waste bins. Large bins (96 gallons) will increase from $26.76 to $30.25 ( $3.49 per month) and medium-sized bin would also go up $1 per month, from $18.76 to $19.76.
What’s next?
City Council will review the proposal and adopt the final budget on Thursday, September 14. Community town halls will run from Monday, Aug. 14 to Thursday, Aug. 24.