City announces proposed budget for 2023, increasing $42.1 million City budget 2023 released, increasing $42.1 million

City Manager Luke Stowe announced the 2023 budget proposal Tuesday, projected for $402.5 million, with capital improvement plan necessary project increases, COVID-19 recovery assistance, and multiple funds decreased.

The budget will prioritize investments in city facilities and infrastructure, advancing the Climate Action and Resilience Plan, community development and job creation as the city continues to recover. recover from the COVID-19 pandemic, among other goals.

The budget saw a $42.1 million increase from the enacted 2022 budget. The city attributed the increase to a drawdown of funds available from the U.S. Bailout Fund, Water Fund, General Fund and Affordable Housing Fund and previously needed capital improvement projects and newly approved.

City staff discussed CIP during a September City Councilnoting that the budget is expected to be $103 million and includes projects such as a new water intake pipeline and improvements to park and city facilities.

The General Fund, the City’s main operating fund, is endowed with $125.3 million in revenues and expenditures for the coming year, an increase of $7.4 million from the budget passed in 2022 .

The projected revenue increase will include state income tax, natural gas utility tax, sales tax, use tax, and hotel tax revenue, as well as a 4% net property tax increase for the city and library to support increased staff and operating expenses. The city attributed this need to the pandemic recovery and the impacts of inflation.

The budget proposal will be officially presented to the city council at a special meeting on October 17 where it will begin its discussion process, pending its approval. The City encourages residents to provide feedback on the proposal.

There will be a public hearing at the October 24 city council meeting and the city is planning two community town hall meetings whose locations and dates will be announced.

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Twitter: @shannonmtyler

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